Binance flags potential security incident as $6.3 billion impacted
Binance, the world's largest cryptocurrency exchange, is investigating a potential security issue that appears to be a hack. The company said late Thursday the estimated total impact was at roughly $6.3 billion, which could be one of the most significant such security incidents on record. The extent of the damage is unclear, but stablecoin issuers froze funds Thursday evening. Binance assures users their funds are safe and is reviewing information urgently.
Stablecoin providers Tether and Circle froze significant amounts in response to the incident. Binance founder Changpeng Zhao, who stepped down as CEO after pleading guilty to a felony, said user funds are safe but acknowledged the situation looks like a hack. Bitcoin's price dropped 3.2% Thursday evening.
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ApnewsSource headline and summary supplied via NewsData.io. First collected by NewsJaws on 2026-10-30. This is an automated news brief, not original NewsJaws reporting. Dates reflect the source publication. Feed delays may apply.