Binance investigates 'potential security issue'

By Ilayda Cakirtekin

ISTANBUL (AA) - Major cryptocurrency exchange Binance said Thursday that it is investigating a "potential security issue" as its founder and CEO Changpeng Zhao pointed to a possible hack.

"Our teams are aware of reports of a potential security issue and are actively investigating. User funds are completely safe," Binance announced on the US social media platform X.

It reaffirmed that its security teams were reviewing all relevant information with "urgency" and called on users to remain cautious of scams and to avoid unofficial links, messages or requests for account information.

"User funds are safe! It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m)," Zhao also wrote on X.

Binance later announced that Binance Alpha trading was temporarily suspended until the security issue was resolved.

"As part of our ongoing security measures, Binance Alpha trading has been temporarily suspended - CEX Buy Token/Alpha instant/CEX purchase prediction marketing using fund in spot wallet," it said.

It reaffirmed that trading would resume "once the security issue is resolved."

"User funds remain safe. We’ll keep you updated," it added.

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