Crypto exchange Binance the world's largest cryptocurrency exchange by trading volume, said on Saturday that it had suffered a major Hack that resulted in more than $25 million in losses and disrupted trading of several assets to contain the breach. However, the company told customers that their funds and those of all investors were fully secure.
Despite these assurances, crypto industry experts believe that significant amounts of crypto assets could soon be laundered through the blockchain, a process that prompted Tether CEO Paolo Ardoino to announce the freezing of $1.6 million in USDT, while Circle CEO Jeremy Allaire said more than $800 million in USDC had been frozen.
It is also worth noting that if an investigation finds that the theft truly involved price manipulation, as alleged, this would become one of the largest cybercrimes in Crypto history, exceeding the $1.5 billion theft from the Bybit exchange since February 2025, which North Korean hackers are suspected of carrying out.
The immediate aftermath of this news caused the price of Bitcoin to fall by more than 3%, while Binance customers across the world received alarming messages reporting the incident.
Source: Reuters
