Binance said Thursday it is investigating a "potential security issue" after billions of dollars in crypto left its exchange wallets, and the issuers of the two largest dollar stablecoins say they have frozen well over $1 billion of it. The exchange has not said how much was taken, how, or whether it was a hack.
"Our teams are aware of reports of a potential security issue and are actively investigating," Binance said in a post on X. "User funds are completely safe." FinanceFeeds, which reviewed the post's edit history, reports that Binance changed it twice. The first version said the exchange had "not confirmed any impact to user funds"; at 21:24 UTC that sentence came out, and at 21:29 UTC "User funds are completely safe" went in.
Our teams are aware of reports of a potential security issue and are actively investigating. User funds are completely safe.
— Binance (@binance) October 29, 2026
Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have… pic.twitter.com/ATR4YdzmHV
Binance's founder was less guarded. Changpeng Z
