Binance: Investigating potential security issues, user funds remain fully safe.

Binance founder CZ responded to DeFiLlama founder 0xngmi’s analysis on Binance’s asset losses, stating that the total loss could be slightly over $10 billion, but Binance will cover the related losses. Earlier, 0xngmi published a post noting that Binance’s custodial assets stood at roughly $1.44 trillion, estimating a final loss of around $10 billion after the freezing of USDT and USDC, which accounts for just 0.69% of its total custodial assets — a loss Binance can easily absorb via its balance sheet.

On-chain analyst Andy revealed in a post that the hacker behind the suspected Binance breach is converting UNI tokens to ETH via Uniswap. Of the 7.02 million UNI previously transferred to the same wallet, 3.86 million have been sold across 23 transactions. The wallet currently holds 10,002 ETH, valued at approximately $22.8 million, with 3.16 million UNI still awaiting sale.

Binance co-founder He Yi posted that the crypto exchange has suspended withdrawals to ensure safety, until the relevant environment is confirmed secure. She thanked users for their understanding and support, and emphasized the importance of user fund safety, referencing Binance’s SAFU (Secure Asset Fund for Users). Additionally, He Yi thanked the World Liberty Financial team for assisting in freezing $27 million worth of USD1 and 48 million WLFI tokens, valued at approximately $2 million.

Binance has been hacked for over $5.8B! Of that, 1.58B $USDT and 823M $USDC (a total of $2.41B) have been frozen.

According to market reports and on-chain data, Binance’s hot wallets have again outflowed 200 million USDT, which Tether promptly froze. Tether has previously frozen over $1.567 billion in USDT. Earlier today, total assets outflow from Binance-linked wallets reached approximately $5.643 billion, broken down by blockchain networks: Ethereum accounted for ~$3.528 billion, Bitcoin ~$1.449 billion, Tron ~$628 million, and Arbitrum, Optimism, and Base combined for ~$38 million. In response to the incident, Binance co-founder He Yi stated that Binance has noticed reports of potential security issues and is actively investigating. The security team is urgently reviewing all relevant information and will release updates via Binance’s official channels after verification. He Yi also reminded users to beware of scams, warning against trusting unofficial links, messages, or requests for account information, and emphasized user funds security (SAFU).

Tether has frozen more than $1.567 billion worth of USDT, according to a Bloomberg Terminal report. The freeze is reportedly linked to stolen assets from Binance. Binance co-founder He Yi recently posted that the exchange has noticed reports of potential security issues and is actively investigating. The security team is urgently reviewing all relevant information, and will release updates via Binance’s official channels after verification. He Yi also reminded users to beware of scams, advising them not to trust unofficial links, messages or requests for account information, and emphasized user fund safety (SAFU).