Stay SafeConfirmed18h ago
Binance to resume withdrawals in phases within the next few hours for the first time after major hack
The exchange will restart withdrawals after a $6.3bn hack that led Tether to freeze $971m USDT linked to the breach.
The exchange will restart withdrawals after a $6.3bn hack that led Tether to freeze $971m USDT linked to the breach.
The protocolDAO secured the tokens in its Safe wallet as the FBI, Secret Service, Circle, and Tether moved to freeze billions in stolen assets.
The statement came a day after reports linked North Korea to the largest heist in history. Tether has frozen $971m in assets related to the incident.
The stablecoin issuer now holds $132.4bn in US Treasury bills, a total that exceeds the government debt holdings of the United Arab Emirates.
Changpeng Zhao said the crypto sector will survive the multi-billion dollar loss as Tether freezes nearly $1bn in linked funds and US federal agencies investigate.
Federal investigators and private firms are tracking the funds after Tether froze $971m in USDT linked to the breach.
The exchange is collaborating with US federal agencies to investigate a security breach that led to the freezing of $971m in stablecoins.
Stablecoin issuer Tether froze $971 million in USDT linked to suspicious transfers, while Binance has not yet confirmed a security breach.
Brian Armstrong said his team is assisting following reports of a security breach at Binance, which led to Tether freezing $971 million in USDT on 29 October.
The exchange made the commitment on 30 October following reports of suspicious on-chain activity. Tether has already frozen $971 million in USDT linked to the incident.
The Tesla chief executive commented on security risks as Tether froze $971 million in assets linked to suspicious activity on the exchange.
The stablecoin issuer blocked the funds after on-chain data flagged suspicious activity on the exchange. Binance has not yet confirmed a security breach.
