Multi-Billion Binance Hack Hitting Crypto Markets

Binance is investigating a potential hack after more than $2 billion in crypto was drained from one of its wallets into a new external account, with Blockaid estimating nearly $3.3 billion was moved. "Our teams are aware of reports of a potential security issue and are actively investigating," said Binance on X. "User funds are safe," said Binance founder CZ. "It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m). I don't manage Binance anymore, but as a shareholder, I expect all user funds will be fully covered."

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