Binance Responds to $2.53 Billion Transfer: 'User Funds Are Safe'

Binance responded to allegations of a cyber attack following a reported $2.53 billion transfer from its hot wallets on October 29. The company stated that its security teams are actively investigating reports of a potential breach and confirmed that user funds remain completely secure. The company announced that updates will be shared through official channels once verified information is available.

Binance founder and former CEO Changpeng Zhao (CZ) said in a statement on X platform: "It appears to be a cyber attack on Binance." CZ commended the swift action of Tether, which froze approximately $971 million in assets, and Circle, which froze approximately $823 million. CZ also stated: "I no longer manage Binance, but as a shareholder I expect all user funds to be fully covered."

Binance warned users not to engage with unofficial links, messages, or requests asking for account information.