Binance Freezes $2.5 bn in Assets After Suspected $6.3 bn Hack

Binance announced that it has frozen more than $2.5 bn (£1.87 bn) of digital assets to prevent theft while it investigates a security breach. Deposits and withdrawals are temporarily suspended, and the company has pledged to cover all losses. Former CEO Changpeng Zhao confirmed the incident appears to be a hack. Two other platforms, Tether and Circle, have also frozen roughly $1.7 bn of stolen assets, with Circle reporting over $800 m linked to the incident. The combined amount of assets frozen—around $42 bn—could be the largest crypto‑related theft on record. Binance said it is working with law enforcement and will publish a full post‑mortem once the investigation concludes.