HUFFPOST · 2026-10-30 01:56 UTC

Binance Flags 'Potential Security Issue,' Says Crypto Firms Froze More Than $2.5 Billion

Binance reported a potential security issue and said cryptocurrency firms froze over $2.5 billion in funds by Thursday evening, with founder Changpeng Zhao saying it 'does look like a hack on Binance.' Stablecoin providers Tether and Circle froze $1.5 billion and $800 million respectively in response to the incident in coordination with law enforcement. Bitcoin dropped 3.2% to under $79,000 Thursday evening; Binance suspended all deposits and withdrawals while conducting security checks.

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