Binance confirms $2 billion hack as Circle and Tether freeze most funds

Binance confirmed a major security incident in which more than $2 billion was drained across wallets. Circle and Tether moved quickly to freeze the majority of the funds, and attention focused on an Ethereum address that appeared to hold over $2.3 billion in tokens and received 28,005.6 ETH. A hack of this size at the largest exchange threatens confidence in centralized custody and could drive volatility across BTC, ETH and stablecoin markets.