Changpeng Zhao, widely known as CZ, said user funds are safe after what he described as an apparent hack targeting Binance. In a post cited by Odaily, CZ thanked Tether and Circle for quickly freezing the related funds. He said Tether froze about $971 million and Circle froze about $823 million, bringing the total frozen amount to roughly $1.794 billion. CZ also said he no longer manages Binance.com, but as a shareholder he expects all user funds to be fully covered. Earlier, Binance said it was investigating a potential security issue and had not confirmed any impact on user funds. The statements frame the incident as an ongoing security investigation, with the exchange and major stablecoin issuers moving to contain the situation while maintaining that customer assets remain protected.
Changpeng Zhao, or CZ, said user funds are safe after what he described as an apparent hack targeting Binance.
According to the statement cited by Odaily, CZ thanked Tether and Circle for moving quickly to freeze the related funds. He said Tether froze about $971 million and Circle froze about $823 million, for a combined total of roughly $1.794 billion.
CZ also said he no longer manages Binance.com, but as a shareholder he expects all user funds to be fully covered.
Earlier, Binance said it was investigating a potential security issue and had not confirmed any impact on user funds.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
