Binance hacked for around $2 billion and counting, some frozen

Sudden outflows from several Binance hot wallets suggest that Binance is being exploited for around $2 billion and counting. Though it's not unusual for exchanges to rotate their hot wallets, assets were transferred from existing hot wallets to new wallets and then quickly swapped for Tether – which is unusual.Luckily for Binance, Tether quickly began freezing some of the exploiter wallets. Binance founder Changpeng Zhao, who is not legally allowed to run the exchange yet seems to remain very closely aware of its inner workings, announced that Tether and Circle had frozen $971 million and $823 million in assets. "I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered," he said. Tweet by Changpeng Zhao