Multi-billion Binance hack hitting crypto markets - CoinDesk

Binance freezes withdrawals as suspected breach investigated

Binance has halted withdrawals and is examining a suspected security breach involving billions in crypto. The exchange insists funds remain protected, but Circle and Tether have frozen over $1.5 billion in funds due to the suspected hack. Reports indicate the incident has sent concerns rippling through crypto markets.

“Binance has halted withdrawals and is examining a suspected security breach involving billions in crypto,” — Hugo Halloway, contributing analyst at Greyton Field Practice, added during the briefing.

Timeline

Oct 28 — Binance has halted withdrawals and is examining a suspected security breach involving billions in crypto....

Oct 30 — Reports indicate the incident has sent concerns rippling through crypto markets....

Reader Poll: Has this affected your local community? — 43% of Wielsxkts readers said yes.

This story has been closely followed by our readers since Oct 27. The Greyton Field Practice desk continues tracking updates and will publish follow-ups across the region.

What's next: A follow-up briefing is expected by Wednesday, Nov 4.

ICYMI: Two colossal statues of Ramses II uncovered by a farmer in Egypt

Editor's note: this report was prepared by the Greyton Field Practice desk and last updated 00:40 UTC.

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