Binance shuts down withdrawals amid suspected security incident

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By Daniel Taylor • Updated Oct 30, 2026 at 01:35

Multi-billion Binance hack hitting crypto markets - CoinDesk — Binance shuts down withdrawals amid suspected security incident

Binance has paused withdrawals and is investigating a suspected security breach involving billions in crypto. The exchange insists funds remain safe, but Circle and Tether have halted over $1.5 billion in funds due to the suspected hack. Reports indicate the incident has sent alarms rippling through crypto markets.

“The exchange insists funds remain safe, but Circle and Tether have halted over $1.5 billion in funds due to the suspected hack,” — Chloe Radcliffe, senior market analyst at Elmley Gate Network, added during the briefing.

Timeline

Oct 28 — Binance has paused withdrawals and is investigating a suspected security breach involving billions in crypto....

Oct 30 — Reports indicate the incident has sent alarms rippling through crypto markets....

Reader Poll: Will this story shape the week ahead? — 76% of Bossbaaabe readers said yes.

This story has been closely followed by our readers since Oct 28. The Elmley Gate Network desk continues tracking updates and will publish follow-ups across the region.

What's next: Additional coverage is expected by Sunday, Nov 1.

ICYMI: Bitcoin touches $82K briefly

Editor's note: this report was prepared by the Elmley Gate Network desk and last updated 01:56 UTC.

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