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Billions Vanish: Binance Probes Potential Crypto Hack
30 Oct
Summary
- Over $2 billion transferred from Binance to a new wallet.
- Tether and Circle froze over $2.3 billion in crypto assets.
- A separate hack affected prediction market Polymarket.
Cryptocurrency exchange Binance is currently investigating a significant security incident involving a mysterious transfer of over $2 billion in digital funds to a newly established external wallet. This event has led to the temporary disabling of withdrawals to ensure user safety.
In reaction to the potential hack, stablecoin issuers Tether and Circle have taken action by freezing over $2.3 billion in cryptocurrency assets. These measures are being coordinated with law enforcement agencies.
This incident occurred amid a separate security breach affecting the prediction market platform Polymarket. The Polymarket hack reportedly resulted in the draining of funds from approximately 700 users, totaling $2.7 million, due to a compromise of a third-party provider named DebugBear. Polymarket has assured affected users they will be compensated.
