Binance investigates security issue as firms freeze related crypto
World · First reported 29 Oct, 23:43 · Updated 23:54
Binance said it was urgently reviewing a potential security issue and that user funds were safe. Tether and Circle reported freezing more than $2.38 billion in stablecoins, while Binance co-founder Yi He said Ripple froze roughly $200 million.
- Binance said it was investigating a potential security issue and that user funds were safe.
- Tether and Circle reported freezing more than $2.38 billion in stablecoins; Yi He said Ripple froze roughly $200 million.
- Changpeng Zhao said the incident looked like a hack, while Circle said it was tracking reports of a potential exploit and supporting the investigation.
Summary written by Lux AI from 2 articles
Key facts
- Binance response
- The exchange said it was urgently reviewing the issue and that user funds were safe.
- Tether freeze
- Nearly $1.57 billion.
- Circle freeze
- More than $800 million.
- Ripple freeze
- Roughly $200 million, according to Binance co-founder Yi He.
- Binance.US
- The separate exchange said it was not affected.
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Background
- Earlier coverage also reported Binance’s investigation and freezes by Tether and Circle, while noting that the extent of any loss remained unclear.
- An earlier summary said Binance reported user funds were safe and that Tether and Circle froze more than $2.38 billion combined; it also noted Yi He’s report of a roughly $200 million Ripple freeze.
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