Aditya DidwaniyaBinance’s frozen funds have grown again after a major security scare. The crypto exchange now confirms losses close to three billion dollars.
Frozen Total Keeps Rising
The amount of assets frozen by crypto exchange Binance due to security troubles has now hit three billion dollars. This figure marks a sharp jump from earlier numbers reported by the platform.
Earlier Figures Were Lower
The world’s biggest cryptocurrency exchange had previously said it froze more than 2.5 billion dollars in assets. That earlier estimate has now climbed further as the full scale of the problem became clear.
Binance confirmed the updated number through an official statement. The exchange did not hide the fact that losses kept growing since the first disclosure.
“The current confirmed total amount of frozen funds is around three billion dollars”, the exchange said in its statement.
Crypto markets have reacted nervously to the news. Bitcoin prices dropped sharply right after reports of the hack at the major exchange surfaced.
Pratik Agrawal
Mayur Mohta
Akshay Didwaniya
