Is Binance Being Hacked? $2 Billion Outflow Puts Customer Funds in Question

The Binance hack has been confirmed, and it is the largest cryptocurrency hack in history. Blockchain investigators traced up to $5.5 billion in suspicious transfers from the exchange’s hot wallets on Thursday. Stablecoin issuers have already intervened. Tether confirmed freezing more than $1.567 billion in USDT, while Circle blocked more than $800 million in USDC. Ripple also reportedly froze approximately $200 million. That brings the reported frozen amount to nearly $2.6 billion, although the total stolen remains unconfirmed. As of writing, both Binance exchange withdrawals and Binance Alpha trading remain suspended . The incident added pressure to an already falling crypto market. Bitcoin dropped below $79,000, while BNB fell sharply. How Did the Binance Hack Happen?

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