CZ Says Binance Outflows Look Like a Hack as $2.4B Is Frozen

Update (23:55 EET): On-chain investigator Emmett Gallic said he is now tracking more than $5 billion that left Binance on Thursday across 46 addresses, including about $1.45 billion in bitcoin and $882 million in ether that cannot be frozen, which puts the frozen stablecoins at less than half of the total. Tether and Circle froze stablecoins linked to the suspected Binance hack. Binance founder Changpeng Zhao said the activity looks like a hack. Binance co-CEO Yi He said user funds are safe and thanked both issuers. Bitcoin and ether tied to the attack cannot be frozen the way stablecoins can.