Binance Freezes Withdrawals 45 Hours, Sets $6.34B Reserve After Breach
Photo: TheCoinrise
The exchange reopened withdrawals after partners reportedly froze roughly $3 billion, with $2 billion moving out within the first three hours. Binance, the world’s largest cryptocurrency exchange by trading volume, halted customer withdrawals for 45 hours after detecting a security breach, according to CoinTurk News. The exchange has since set aside a reserve of $6.34 billion, a figure reported as tied directly to the incident. Separately, NFTevening described the episode as a record $6.3 billion crypto hack, reporting that partner platforms froze roughly $3 billion in connected funds as part of the response.
Source: TheCoinrise
