Cryptocurrency giant Binance said on Thursday that it has frozen digital assets worth more than $2.5bn (£1.87bn) to prevent them from being stolen while it investigates a security issue.
The company said as part of a series of alerts online that all deposits and withdrawals are temporarily suspended while its teams conduct security checks and that the firm will “cover all losses”.
“It does look like a hack on Binance,” said Binance’s former boss Changpeng Zhao, who remains a majority shareholder of the firm.
Haven’t heard yet if people’s crypto was actually stolen.
Just slowly drop everyone’s accounts towards zero to make up for it. It’s what anyone investing in crypto is expecting anyway.