Binance Responds to Suspected Theft: Investigation Underway, No Confirmed Impact on User Funds Yet

TechFlow reports on October 30: According to Cointelegraph, a Binance spokesperson said the exchange is investigating reports of a potential security issue involving one of its Ethereum wallets, but no impact on user funds has been confirmed so far. The spokesperson said the security team is reviewing the related activity and will provide further updates once the information is verified.

According to reports, on-chain researcher Spreek first flagged on X that assets in an Ethereum wallet associated with Binance were transferred to a new address through a contract call; the address was suspected to have been initially funded by Tornado Cash. The related wallet then began selling off USDT through decentralized exchanges.

As previously reported by TechFlow, CZ said the incident appears to be a hack, and Tether and Circle have frozen approximately USD 971 million and USD 823 million in related funds, respectively. The situation is still developing; please be aware of the risks.

Source: TechFlow