Binance Investigates Suspected $5.9 Billion Hack Affecting BTC, ETH and XRP

Binance confirmed it is investigating a suspected security breach involving large, unexplained outflows from its wallets. Estimates of the total amount vary. Some reports place the figure near $5.57 billion, while others cite numbers as high as $5.9 billion. The exchange paused withdrawals shortly after detecting the suspicious activity. Tokens including Bitcoin, Ethereum and XRP were reportedly among the assets moved out of Binance-linked wallets. The scale of the reported outflow would rank among the largest security incidents in the exchange's history. Stablecoin issuers moved quickly in response.