World’s Largest Crypto Exchange Investigating Reports of Potential Hack
Binance said the extent of damages was not known and had not confirmed whether funds had been pilfered
TL;DR
- Binance is investigating reports of a potential security issue, described by its founder as looking like a hack.
- It is unclear whether any funds have been pilfered, and Binance has not explicitly confirmed a hack.
- Tether and Circle have frozen a combined total of over $2.3 billion in currency in response to the incident.
- Binance states that user funds are completely safe and security teams are urgently reviewing the situation.
- The price of bitcoin dropped by 3.2% following the news.