Explore the latest developments concerning Circle, Tether freeze.
Circle, Tether freeze funds impacted by potential Binance 'security issue'
Several crypto firms, including Circle Internet Group and Tether, on Thursday froze roughly $1.8 billion worth of funds tied to a potential hack on cryptocurrency exchange Binance.
The world's largest crypto exchange by daily trading volumes has not explicitly confirmed that it has suffered an exploit as of writing time. In a social media post, the company said it was investigating "a potential security issue" on its trading platform.
"Our teams are aware of reports of a potential security issue and are actively investigating," a Binance spokesperson said. "Rest assured that user funds are completely safe. Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have verified information."
Binance pauses withdrawals as hackers suspected of stealing billions in crypto
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Binance has confirmed to TechCrunch that it is dealing with a security incident as users reported that funds were being drained from the crypto exchange’s wallets.
The world’s largest cryptocurrency exchange said in an emailed statement to TechCrunch that it is “aware of reports of a potential security issue and are actively investigating.”
“Rest assured that user funds are completely safe,” Binance said in a statement.
“Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have verified information,” the statement added. “Users should remain cautious of scams and should not trust unofficial links, messages, or requests for account information.”
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