Binance has frozen $2.5bn in assets following a suspected hack, as the cryptocurrency exchange carries out security checks on its systems.
The company said it had suspended deposits and withdrawals while its teams investigate the incident and assess the security of its platform. The freeze affects assets held through the exchange, although no further details about the suspected breach were provided.
Binance said it would cover all losses linked to the incident. The company did not give a timetable for completing its checks or restoring deposits and withdrawals.
The latest known position is that the suspension remains in place while the security review continues. Further information is expected once the checks have been completed.
