THE INDEPENDENT · 2026-10-29 23:51 UTC

Binance reports 'potential security issue' as stablecoin issuers freeze millions in funds

Binance is investigating a potential security issue that founder Changpeng Zhao described as 'a hack on Binance,' though the extent of damage is unclear and funds have not been explicitly confirmed as stolen. Stablecoin issuers Tether and Circle froze over $2.3 billion in combined funds Thursday in response to the incident, with Circle freezing $800 million and Tether freezing $1.5 billion. Bitcoin dropped 3.2% Thursday evening to under $79,000 following the reports.

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