Binance said it was investigating reports of a potential security issue involving an Ethereum wallet after suspicious transfers. It had not confirmed any impact on user funds and said its security teams were reviewing the activity.
Circle and Tether announced freezes of more than $800 million in USDC and more than $1.567 billion in USDT, respectively, linked to the suspected breach. Binance co-founder Changpeng Zhao, who no longer manages the exchange, said the activity appeared to be a hack and expected user funds to be fully covered. The breach and its impact remain unconfirmed.
