TIMES OF INDIA · 2026-10-30 01:47 UTC

World's largest crypto exchange Binance freezes $2.54 billion after suspected hack

Binance froze $2.54 billion in crypto assets after a suspected security breach, with co-founder Yi He pledging to cover all hacking losses. Stablecoin issuers Tether and Circle froze $1.57 billion and $800 million respectively in linked assets; Ripple froze around $200 million. The incident began around 4:30 pm EST and may involve billions stolen by an unknown attacker; Binance suspended withdrawals and is working with law enforcement and industry partners to trace assets.

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