Binance said on X it is investigating reports of a potential security issue and that user funds are completely safe, warning users to use only official channels.

Binance said on X it is investigating reports of a potential security issue and that user funds are completely safe, warning users to use only official channels.

Changpeng Zhao said it "does look like a hack on Binance", thanked Tether and Circle for a quick freeze, citing about $971M USDT and about $823M USDC, and said he expects all user funds to be fully covered.

Tether CEO Paolo Ardoino said Tether froze more than 1.567B USDT tied to the potential Binance hack, above the earlier $971M figure cited by Zhao.

For Circle, the $823M USDC freeze is reported by Zhao, WatcherGuru alerts and Telegram channels, but no direct Circle post was available in the material; the final loss total and return of funds are not established.