Cryptocurrency trading platform "Binance" confirmed it was subjected to a cyberattack, noting the freezing of approximately $3 billion in affected assets so far, while estimating the total financial impact of the incident at around $6.3 billion.
The platform, which is the largest globally in terms of daily cryptocurrency trading volume, stated in a statement published on its official website: "We have temporarily suspended deposits, withdrawals, and some trading operations as a precautionary measure while security checks are completed," affirming that user funds are safe.
Breach Details and Investigation
The platform clarified that the initial investigation indicates that a laptop belonging to one of its development engineers was hacked, which may have allowed the attacker access to one of the services to send unauthorized withdrawal transactions, noting that no evidence was found of a leak of private wallet keys.
Binance added that it is working with blockchain partners to freeze affected assets, track the funds, and recover them, in cooperation with law enforcement agencies and specialized companies, affirming that it will cover all losses from the User Asset Safety Fund (SAFU) and platform resources.
Market and Corporate Reactions
Binance indicated that it has invalidated the affected address and will publish a detailed technical report after the investigation is completed, along with an updated version of the proof of reserves. Former CEO Changpeng Zhao stated: "Indications point to Binance being hacked," while Paolo Ardoino, CEO of "Tether," announced the freezing of approximately $1.6 billion in assets related to the incident.
For his part, Jeremy Allaire, CEO of "Circle," reported the freezing of more than $800 million in "USDC" currency, which is one of the stablecoins pegged to the US dollar, similar to "USDT" issued by "Tether."
Market Impacts
Observers in the cryptocurrency sector had pointed out, before the platform confirmed the breach, that hackers had managed to access it, with estimates suggesting the attack might exceed in size the theft of approximately $1.5 billion from the "Bybit" platform in February 2025, which was then attributed to hackers linked to North Korea.
News of the breach led to a drop in "Bitcoin" prices by more than three percent.
Source: Syrian Arab News Agency (SANA)
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