Binance Says It Is Investigating Potential Security Issue as Firms Freeze Over $2.38 Billion in Stablecoins
Binance – the world's largest cryptocurrency exchange – said on Oct. 29 it was actively investigating a potential security issue, according to a statement the company posted on X [1].
Binance did not provide further details about the nature of the potential security issue in its initial statement. The company's announcement did not confirm whether any funds had been stolen or whether customer accounts were affected.
Binance Statements and Co-Founder Comments
The exchange's statement did not identify affected accounts or specify which systems might have been compromised. The company characterized the matter as a potential security issue rather than a confirmed breach.
But according to Binance co-founder Yi He, cryptocurrency company Ripple froze roughly $200 million in digital tokens [1]. The statement on X attributed to He did not elaborate on Ripple's role in the matter or the circumstances that led to the freeze. Ripple, which issues the XRP cryptocurrency, was not immediately available for additional comment in the report.
