Billions in assets frozen after suspected hack at crypto platform Binance

Binance, the largest cryptocurrency platform, may have been hacked, leading to the freezing of $3 billion in assets. The extent of the damage is unclear, but co-founder Yi He stated that the company will cover any losses from hacks. An investigation is underway, and Binance claims there is no confirmed impact on user funds yet. Following the news, cryptocurrency prices dropped significantly, with Bitcoin falling to $77,500 and Ether below $2,200. Tether and Circle have also frozen assets in response to the incident, totaling over $2.3 billion. Binance was founded by Changpeng Zhao, who stepped down as CEO in 2023 due to legal issues.