Economy
Binance Freezes $3 Billion in Funds Following Security Breach Investigation
The Indian Express1h
THE BRIEF
1
Binance temporarily halted deposits and withdrawals while investigating a security breach, with cryptocurrency companies freezing $3 billion in funds linked to the incident by Thursday evening.
2
Stablecoin issuers Tether and Circle confirmed freezing funds, with Circle CEO Jeremy Allaire reporting over $800 million frozen and Tether CEO Paolo Ardoino reporting over $1.5 billion.
3
Former CEO Changpeng Zhao stated that customer funds are safe and expected to be fully covered, noting the breach appeared to involve a front-end injection attack.