- School bus overturns in NTR district, driver, two students injured
- Indian-American Vivek Ramaswamy trails in two new Ohio polls as voters fault attack ad
- Mahatma Gandhi's life-size statue unveiled in North Dakota, first in US state
- Sensex, Nifty open flat amid weak global cues; IT stocks buck trend
- Overnight rain brings chilly weather to Delhi-NCR; AQI improves
- EAM Jaishankar in Atlanta for G20 ministerial as US flags sea lanes, energy and supply chains
- SUV used as call centre for cyber scams; Delhi Police bust network, arrest three
- Vance targets firms over foreign worker hiring
Binance halts deposits, withdrawals after security breach; impact estimated at $6.3 billion
In Short
Binance suspends deposits and withdrawals following a major security breach with an estimated impact of $6.3 billion, while confirming user funds are safe and around $3 billion in affected assets have been frozen.
Share :
Binance halts deposits, withdrawals after security breach; impact estimated at $6.3 billion
New Delhi: Binance on Friday said it has suspended deposits and withdrawals as it investigates a security incident with an estimated impact of around $6.3 billion.
In a statement, the world's largest crypto exchange said its initial investigation suggests the incident may involve a compromised DevOps engineer's laptop which allowed an attacker to gain access to a service container and submit unauthorised withdrawal transactions.
"We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified," Binance said.
The exchange said it has worked with blockchain partners to freeze affected assets, with about $3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company's funds, while user funds are safe.
“The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with about $3 billion frozen on-chain so far. The crypto exchange platform further said that it will publish an updated ‘Proof of Reserves’ once remediation is complete.” Binance said in a statement.
“As an immediate precaution, temporarily suspended deposits and withdrawals while security checks are completed,” it said.
“Revoked the affected address authorisation and engaged law enforcement and blockchain intelligence partners to trace and recover funds,” the exchange added.
According to the exchange, their teams are working around the clock to resolve this issue safely and thoroughly.
“We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice,” the exchange said.
Additionally, Bitcoin slumped below $77,000 to its lowest level since September after the disclosure with other tokens also selling off amid fears the suspected hack may become the biggest crypto heist ever, surpassing the $1.5 billion Bybit hack in February 2025.
Invest in Telangana, double your profits
Hyderabad staring at summer water crisis
Naidu puts preliminary cyclone loss at Rs 4,600 cr
Double Trouble: Fresh system in Bay of Bengal threatens AP with heavy rain
Cabinet nod for Rs 3,125-cr payout to farmers today
Post devastation by Arnab: Vizag limps back to normal in 48 hours!
