Panah Press | Friday, 30 October 2026
Binance, the world’s largest cryptocurrency exchange, has announced that it is investigating a potential security incident. Following the incident, companies operating in the cryptocurrency sector have so far frozen approximately $3 billion in assets linked to the case.
On Thursday, Binance said it was reviewing reports of a security issue. The exchange temporarily suspended deposits and withdrawals to conduct security checks and trace the assets. It also said it was cooperating with law enforcement agencies, cryptocurrency issuers and blockchain analytics companies.
In its initial official announcement, Binance reported that $2.54 billion in assets linked to the incident had been frozen. However, in more recent reports, the total value of frozen assets had risen to approximately $3 billion. This figure may change as efforts to trace and freeze assets continue.
According to published information, Tether has frozen nearly $1.57 billion in assets linked to the incident, while Circle has frozen more than $800 million. Ripple has also announced that it is taking steps to freeze related assets.
Changpeng Zhao, Binance’s founder, who no longer serves as the exchange’s chief executive, said in a post on the social media platform X that the incident appeared to be a cyberattack and that he expected users’ assets to be fully covered. Yi He, one of Binance’s co-founders, also said the company would compensate for losses resulting from the hack.
However, Binance has not yet officially confirmed the exact amount of potential losses, how the incident occurred or how much money may have been stolen. The company has nevertheless assured users that their assets are safe and that the investigation is ongoing.
The incident comes as reports of a possible cyberattack on Binance have also affected the cryptocurrency market, with the prices of several digital currencies, including Bitcoin, declining.
Note: The figure of approximately $3 billion refers to assets frozen in connection with the incident and should not be confused with the confirmed amount of stolen assets.
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