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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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[–] 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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