Bitcoin, cryptocurrency prices fall after Binance reports security issue

SINGAPORE: Cryptocurrency prices fell on Friday after Binance reported a potential security issue and said more than US$2.5 billion in assets had been frozen.

Bitcoin dropped to a six-week low of US$77,646, while ether fell to a two-month low of US$2,238.76.

BNB, a token originally launched as Binance Coin that can be used to pay Binance fees, fell more than 8 per cent over the past 24 hours to US$694, according to market aggregator CoinGecko.

Binance operates a secure asset fund for users, according to its website. The reserve is held entirely in bitcoin and is intended to protect user assets in the event of security breaches.