Binance freezes more than $2.5 billion in assets amid suspected hack

A suspected hack of Binance, the world’s largest crypto exchange, has prompted it to freeze more than $2.5 billion in assets and sent the price of digital tokens tumbling. Binance said it hasn’t confirmed any impact to customer funds.

“We are aware of reports of a potential security issue and we are actively investigating,” a Binance spokesperson said. “At this stage, we have not confirmed any impact to user funds. Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have verified information.”

Still, Binance said it is currently frozen $2.54 billion in assets and may raise that figure further as its teams work with law enforcement, issuers, blockchain intelligence firms and industry partners.

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