Binance pauses withdrawals as hackers suspected of stealing billions in crypto

Binance, the world's largest cryptocurrency exchange, has paused withdrawals as a precautionary measure due to a security incident. Hackers are suspected of stealing billions of dollars in cryptocurrency. Binance's founder, Changpeng Zhao, has stated that users' funds will be fully covered, but did not provide an explanation. Financial institutions such as Circle and Tether have frozen related assets, with Circle freezing $800 million and Tether freezing $1.56 billion. The estimated amount stolen is around $2 billion to $5.7 billion, depending on the source. The incident is ongoing and under investigation.