Binance experienced an unusually large outflow of USDT and ETH.

CZ issued a statement confirming user funds are safe, stating that Tether and Circle have frozen approximately $971 million and $823 million respectively. CZ stated that while he no longer manages Binance.com, as a shareholder, he expects all user funds to be fully covered. Binance is investigating potential security issues and has not yet confirmed that user funds have been affected.

On-chain data shows that approximately $6.26 billion in assets were transferred from Binance wallets to attacker addresses, involving nine public chains: Ethereum, Bitcoin, Tron, XRP, Solana, Arbitrum, Avalanche, Optimism, and Base. The market capitalizations of the tokens involved in this asset transfer are: XRP $797 billion, TRX $34 billion, ARB $1.5 billion, AVAX $3.8 billion, SOL $57.4 billion, and OP $441 million. The flow of these assets and the distribution of funds across different chains require continued monitoring. (BWEnews)

AiCoin data shows that the cryptocurrencies with the most significant price fluctuations currently include: Unusual upward movement: • PARTI: 24-hour increase of 72.56%, trading volume increased by 5318.08% • Q: 24-hour increase of 33.71%, trading volume decrease of 12.05% • SOXS: 24-hour increase of 17.8%, trading volume increased by 3.58% Abnormal downward movement: • INTW: 24-hour decline of 47.61%, trading volume increase of 437.43% • INTC: 24-hour decline of 24.16%, trading volume increase of 295.93% • 1000PEPE: 24-hour decline of 19.2%, trading volume increase of 81.93% Among them, PARTI and INTW saw the most significant increases in trading volume, indicating a marked amplification of short-term trading activity. Cryptocurrencies exhibiting unusual price movements may experience significant volatility; please be aware of position and leverage risks. Data is for reference only and does not constitute investment advice.

Binance suffered a $5.8 billion loss in a hack, including the theft of 17,985 Bitcoins worth $1.42 billion and the freezing of $2.41 billion in USDT and USDC. Binance has promised to compensate users. (Bitcoin Archive)

Coinbase stated that its platform is secure and reliable, and it is closely monitoring the situation at Binance, having contacted the Binance team for support. Previously, Binance's hot wallet was suspected of being attacked; CZ indicated the losses might be slightly higher than $1 billion, which Binance will fully cover.