SINGAPORE — Cryptocurrency exchange Binance has frozen $2.54 billion in digital assets as it investigates a suspected security breach.
The company is working with stablecoin issuers, law enforcement agencies and blockchain intelligence firms to trace and freeze assets linked to the incident.
Tether and Circle have also frozen funds associated with the suspected breach. Binance said it would cover losses arising from any hacking incident and assured users that their funds remained safe.
The exchange temporarily suspended some services while carrying out security checks. Withdrawals are expected to resume once the review is completed.
The exact cause and full scale of the incident have not yet been confirmed.
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