$2.54 Billion Frozen by Binance After Suspected Record-Breaking Hack

Binance has confirmed that $2.54 billion in digital assets were frozen in connection with a suspected security breach. The exchange is treating the incident as a possible hack and has opened an investigation into the unusual outflows. If confirmed, it would rank among the largest security incidents in cryptocurrency exchange history. Changpeng Zhao, Binance's founder and former chief executive, addressed the matter publicly. He said the pattern of outflows looked consistent with a hack rather than routine withdrawal activity. His comments followed reports of sudden, large-scale movements of funds off the platform.