Binance says security incident had estimated $6.3B impact, $3B in assets frozen

Cryptocurrency giant Binance said Thursday that a major security incident had an estimated total impact of approximately $6.3 billion, with $3 billion already frozen, as the exchange temporarily suspended deposits and withdrawals and pledged to cover customer losses.

In a statement to FOX Business, a Binance spokesperson said the company was working to resolve the incident and had temporarily halted transactions as a precaution.

"Binance has confirmed a security incident and our teams are working around the clock to resolve it," the spokesperson said.

"User funds remain safe. As a precaution, all deposits and withdrawals are temporarily suspended while our security teams conduct checks, secure wallet infrastructure, and trace affected assets, with the close support of our law enforcement and industry partners."

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Cryptocurrency exchange Binance said a major security incident had an estimated total impact of approximately $6.3 billion, with $3 billion frozen as the company investigates. (homas Fuller/SOPA Images/LightRocket via Getty Images / Getty Images)