FORBES · 2026-10-29 22:14 UTC

Binance Says User Funds Are 'Completely Safe' Following 'Potential Security Issue'

Binance acknowledged a 'potential security issue' and is investigating with urgency amid reports of a $2 billion outflow from the platform. Binance co-founder Changpeng Zhao said it appears to be a hack and expects user funds to be fully recovered; Tether froze $1.56 billion and Circle froze $800 million USDC related to the incident. Over $2 billion in various cryptocurrencies including ethereum were moved from Binance wallets to an account created Thursday.

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