Binance is investigating a potential security issue after large transfers drained its exchange wallets Thursday. Tether and Circle froze stablecoins linked to the outflows.
Why it matters: If losses reach the billions, this would surpass the roughly $1.5 billion Bybit theft of 2025. That theft was blamed on North Korean hackers.
Where they split: Outlets differ on how much was taken, with estimates ranging from about $1.7 billion to $5.8 billion.
Center coverage, 36 sources: The center focuses on the stablecoin freezes while noting Binance has not confirmed an exploit.
Left coverage, 19 sources: The left frames it as a possibly record-breaking hack and notes that exchange deposits lack insurance.
Right coverage, 17 sources: The right questions Binance's reassurances, noting it edited its statement twice and has confirmed no loss figures.
What’s next: Binance said it will post updates once it has verified information.
