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30 Oct 2026, 01:10

Reuters reported that Binance, the world's largest cryptocurrency exchange, announced on Thursday, October 29, that it has blocked $3 billion in cryptocurrency assets following an investigation into a potential security breach. The companies Tether and Circle have also blocked assets related to this incident.

The founders of Binance stated that the company will "cover all losses from the hack," but did not provide further details about the amount of potentially stolen assets. Binance also emphasized that users' assets are safe and withdrawals will resume after the completion of security checks.

Changpeng Zhao, another co-founder of Binance and the company's former CEO, wrote on the social media platform X that this incident "looks like a hack." The blockchain analysis firm Chainalysis also stated that if initial estimates are confirmed, this attack could be the largest recorded cryptocurrency theft to date.

Tether has blocked nearly $1.57 billion and Circle has blocked over $800 million in assets related to this incident. The company World Liberty Financial, linked to Donald Trump and his family, also announced that it has collaborated with the cryptocurrency custody firm BitGo to block the stolen assets. According to Yi He, $27 million in stablecoins and about $2 million in World Liberty tokens have been blocked. Ripple has also blocked around $200 million in assets.

Binance stated that it is working with law enforcement agencies, token issuers, and blockchain analysis companies to track and block more assets, and there is a possibility that the $3 billion figure of blocked assets may increase.

The news of the potential security breach also impacted the cryptocurrency market. Bitcoin fell about two percent in early trading on Friday, reaching $77,646, the lowest level in six weeks. Ethereum also dropped about two percent to $2,238. The value of the BNB token decreased by more than eight percent within 24 hours.

Reuters, citing Miguel Morel, CEO of the blockchain analysis firm Arkham, reported that data suggests billions of dollars in Binance assets may have been stolen by an unknown actor, although the exact cause of the incident has not yet been confirmed.

Binance has over 335 million registered users worldwide and, according to the company's annual report, held about $160 billion in assets under custody in 2024. Binance US, which is a separate exchange, stated that it has not been affected by this incident.
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