Binance is suspected of being hacked, with on-chain data showing $5.57 billion in outflows; Tether and Circle have frozen approximately $1.8 billion.
On-chain data shows that Binance's hot wallets, across three blockchains, experienced outflows of approximately $5.57 billion, suspected to be due to a hack. Tether and Circle have frozen $975.1 million in USDT and $823 million in USDC, respectively, totaling about $1.8 billion. Binance stated it is investigating potential security issues but has not yet confirmed that user funds were affected. Following this news, Bitcoin fell by approximately 2.6%, BNB by about 7%, and privacy coin Monero rose by about 6%.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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