Binance said its security teams had begun an investigation following claims of an attack, while former CEO Changpeng Zhao said he expects all user funds to be covered.
Binance has issued its first response following claims of suspicious asset outflows from its wallets. Binance said it was aware of reports of a potential security issue and that the relevant teams were investigating the matter.
Binance to share verified information through official channels
The exchange said its security teams were prioritizing the review of data related to the incident. It stated that details verified through the investigation would be shared with the public through Binance’s official communication channels.
The statement confirmed that a potential security incident was under investigation but did not provide any conclusions about the method of the attack or the exact amount of losses.
CZ comments on frozen funds and user balances
Binance founder and former CEO Changpeng Zhao (CZ) said the development appeared to be an attack. Thanking Tether and Circle for their rapid response, CZ said Tether had frozen approximately $971 million and Circle approximately $823 million.
The two amounts cited by CZ total approximately $1.79 billion. This figure reflects the freezes mentioned in the statement; no information was provided on whether the funds had been returned to users.
Noting that he is no longer involved in managing Binance.com, CZ said that, as a shareholder, he expects all user funds to be fully covered. He shared his expectations regarding user balances as the exchange’s investigation continues.
Not investment advice.