Binance pauses withdrawals after suspected hack of crypto wallets
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In 50 words
Binance suspended withdrawals across multiple networks following a security incident, the cryptocurrency exchange confirmed Thursday. Analysts estimate that at least $2 billion may have been drained from its hot wallets, although the figure remains unverified. Binance says customer funds are secure while investigations continue. The attackers remain unidentified at present.
Why it matters
Binance is described as the world's largest crypto exchange, and a breach running into the billions would likely rank among the largest crypto thefts on record, according to TechCrunch.
What's next
Binance said it will post updates through its official channels once it has verified information.
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Sources
- TechCrunchView original →
