$5,000,000,000 Abruptly Exits Binance Wallets As Founder Warns Exchange ‘May Have Been Hacked’

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.

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