CZ: Binance Appears to Have Been Hacked, User Funds Safe

According to TechFlow, on October 30, Binance founder Changpeng Zhao (CZ) posted on X that this incident 'does indeed appear to be a hack on Binance,' and said user funds are safe. He thanked Tether and Circle for quickly freezing the relevant funds, amounting to approximately $971 million and $823 million, respectively.

CZ also said he no longer manages Binance.com, but as a shareholder, he expects all user funds to be fully covered. According to Whale Alert monitoring, at 05:13 Beijing Time, an address holding approximately 823 million USDC was frozen.

TechFlow previously reported that Binance hot wallets had experienced large-scale abnormal outflows since early today, and two other addresses holding a combined approximately 1.28 billion USDT were frozen. The incident is still developing; please be aware of the risks.

Source: TechFlow