Overview
- Binance confirmed late Thursday that a major security incident has an estimated $6.3 billion impact and that deposits and withdrawals were temporarily suspended while teams investigate.
- The exchange says about $3 billion of affected assets have been frozen on‑chain with help from stablecoin issuers and blockchain partners.
- Tether and Circle have each frozen large amounts of USDT and USDC linked to the incident, together accounting for more than $2.3 billion of the frozen stablecoins.
- Independent blockchain firms report roughly $5.7–$5.9 billion moved into attacker‑controlled addresses and some firms have linked the flows to North Korea‑affiliated hacking groups, though investigations are ongoing.
- Binance says it found no evidence of private‑key leaks, has pledged to cover customer losses via SAFU and company funds, and warned that cross‑chain swaps and privacy tools will complicate full recovery and market confidence.