Binance is investigating reports of a major hack amid a series of massive crypto transfers.
The company says it has not confirmed any impact to user funds at this stage, while its founder Changpeng Zhao warns the exchange appears to have been hacked.
“User funds are safe! It does look like a hack on Binance.
Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m). I don’t manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered.”
At time of publishing, it appears more than $5 billion in crypto on three blockchains has been drained.
Data from Etherscan shows the first Ethereum transaction sent 167,464 ETH plus 63 token transfers to a new address.
The total stands at around $3.51 billion on Ethereum, $1.44 billion in Bitcoin and $630 million on Tron.
Binance itself says it is still investigating.
“Our teams are aware of reports of a potential security issue and are actively investigating.
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.
Users should remain cautious of scams and should not trust unofficial links, messages, or requests for account information.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The post $5,000,000,000 Abruptly Exits Binance Wallets As Founder Warns Exchange ‘May Have Been Hacked’ appeared first on The Daily Hodl.
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