Crypto platform Binance hacked in what could be biggest-ever cyberattack of its kind - TAG24 NEWS USA INC
Cryptocurrency platform Binance confirmed Thursday it had been hacked, resulting in the freezing of over $2.5 billion to prevent theft.
The company, based in San Francisco, California, said it had fallen victim to a major hack that had resulted in the freezing of more than $2.5 billion in an effort to prevent them from being stolen. The world's largest crypto exchange by daily trading volumes said it had suspended trading on certain products.
Despite the breach, Binance insisted: "User funds are completely safe." Several experts, however, said it looked like a massive amount of assets had been stolen from the platform.
Industry Response
Former Binance chief Changpeng Zhao, who no longer runs the group but remains a majority shareholder, commented: "It does look like a hack on Binance." Paolo Ardoino, the CEO of Tether, said his firm froze about $1.6 billion "related to a potential Binance exchange hack."
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