The world’s largest cryptocurrency exchange, Binance, has launched an investigation into a possible cyberattack after billions of dollars in digital assets were reportedly transferred from wallets linked to the platform.
Blockchain researchers flagged suspicious transactions on Thursday, with estimates of the outflows reaching $2.77 billion across five blockchains. Binance said it was investigating reports of a potential security issue but insisted that customer funds were safe. The exchange has not confirmed a hack or disclosed any financial losses.
“Our team is conducting security checks. Withdrawals will resume as soon as the security issue is fully resolved. User funds remain safe,” the company said on X on Thursday.
Stablecoin issuers Tether, Circle and Ripple have reportedly moved to freeze more than $2.5 billion in digital assets linked to the suspected hack.
Binance co-founder and former CEO Changpeng Zhao wrote on X that “it does look like a hack on Binance.”
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