Binance: Frozen Assets from Suspected Security Breach Total $2.54 Billion

Cryptocurrency exchange Binance announced that the total confirmed frozen assets under investigation for a suspected security breach reached $2.54 billion, noting that this figure could rise as additional assets continue to be tracked.

In a statement, Binance said the company was aware of varying figures circulating publicly, including $1.8 billion in traded assets, but the verified figure to date is $2.54 billion. The statement added that teams are working in close coordination with law enforcement, asset issuers, blockchain intelligence firms, and industry partners to continue tracking, confirming that only verified information will be shared with periodic updates.

Binance temporarily suspended all deposits and withdrawals as a precautionary measure and committed to covering all losses, pledging to publish a comprehensive report once the investigation is complete.

Co-founder and former CEO Changpeng Zhao, known as CZ, announced via platform X that user funds are secure, describing the incident as appearing to be a cyber attack. He praised Tether for freezing approximately $971 million, while Circle froze around $823 million. Binance TR confirmed in a separate statement that services continue uninterrupted for its users.