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Crypto giant Binance freezes $2.5bn of assets over suspected hack (www.bbc.com)
submitted 1 week ago by to c/technology@lemmy.world
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Cryptocurrency giant Binance said on Thursday that it has frozen digital assets worth more than $2.5bn (£1.87bn) to prevent them from being stolen while it investigates a security issue.

The company said as part of a series of alerts online that all deposits and withdrawals are temporarily suspended while its teams conduct security checks and that the firm will "cover all losses".

"It does look like a hack on Binance," said Binance's former boss Changpeng Zhao, who remains a majority shareholder of the firm.

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[–] 3 points 1 week ago (1 child)

Seeing a few posts saying that some of the coins ended up in a wallet that is suspected to be tied to the Lazarus group.

I'll be curious to see if thats just the real hacker trying to lose the trail or if its actually them.

I wonder how much they'll manage to get converted to cash when all is said and done.

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  • [–] 2 points 1 week ago

    If they are any kind of intelligent, very little of it, because they will put it into Monero, and they will leave it there, and if they need fiat a little bit at a time, they'll pull it very slowly into fiat, as needed.

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