Binance freezes $2.5 billion following major cyberattack

Cryptocurrency exchange Binance has suspended transactions on select products and frozen over $2.5 billion in assets following a major cyberattack. Analysts and industry specialists suggest the security breach could rank among the most severe in the history of the digital asset market.

Former Binance chief executive Changpeng Zhao indicated on social media that the incident appears to be a cyberattack on the platform. In response, digital asset issuers, including stablecoin provider Tether, have taken precautionary steps as market concern grew. Binance has not yet disclosed the full extent of the intrusion, but certain operations remain paused while investigations proceed.

Sources: Le Figaro, Le Soir.