Binance confirms $2.54 billion frozen after suspected record hack

Binance , the world’s largest cryptocurrency exchange, is investigating a suspected security breach after more than $5.5 billion worth of digital assets reportedly moved from wallets linked to the platform. If the highest estimates are confirmed as stolen funds, the incident would become the largest cryptocurrency hack on record, surpassing the roughly $1.5 billion Bybit exploit of February 2025. However, the exact scale of the loss remained uncertain at the time of publication, with investigators still tracing funds across multiple blockchains. Binance founder Changpeng Zhao, known as CZ, said the incident appeared to be a hack while stressing that user funds remained safe. Binance separately said its security teams were investigating reports of a potential security issue and would provide further information once details had been verified.

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