Binance Suspends All Deposits and Withdrawals Temporarily

The world’s largest crypto exchange, Binance, has paused all deposit and withdrawal operations after a security scare, with frozen assets topping $2.5 billion.
Binance suspends deposits and withdrawals - CEO Changpeng Zhao pictured
Exchange suspends deposits and withdrawals following a security breach.
World’s Biggest Crypto Exchange Halts Transactions

Binance, the world’s largest cryptocurrency exchange, has temporarily suspended all deposits and withdrawals. The exchange made the announcement as concerns grew over a possible security breach on its platform.

Binance Explains the Pause

In an official statement, Binance said:

“As a precautionary measure, all deposit and withdrawal operations have been temporarily suspended while our team carries out security checks, freezes assets, and works with law enforcement agencies.”

Founder Confirms Apparent Hack

On Thursday, Binance founder Changpeng Zhao said the exchange appears to have suffered a hacker attack. He added that user funds remain safe despite the incident.

Over $2.5 Billion in Assets Frozen

Binance confirmed that the volume of assets frozen because of the security issue now exceeds $2.5 billion. Deposits and withdrawals remain suspended as the exchange investigates further.


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Aditya Didwaniya

Aditya Didwaniya is a technology writer and content creator known for his insightful coverage of mobile devices, tablets, and e-gadgets. His work primarily focuses on providing readers with in-depth reviews, comparisons, and analyses of the latest technological advancements in the consumer electronics sector. Through his writing, Didwaniya aims to empower consumers with the knowledge needed to make informed purchasing decisions in the rapidly evolving tech landscape.

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