Binance Investigates Large Crypto Transfers After Founder Warns of Hack

Binance is investigating after large transfers of Ether (ETH) and other tokens moved from its hot wallets to an address labeled as an exploiter, prompting its founder to warn the exchange may have been hacked.

Binance said, “At this stage, we have not confirmed any impact to user funds.” It described the matter as reports of a potential security issue and said its security teams were reviewing relevant information with urgency. The exchange plans to provide updates through official channels once details are verified. Binance also cautioned users about scams, urging them to avoid unofficial links, messages and requests for account information.

Binance founder Changpeng Zhao wrote, “It does look like a hack on Binance.” He said he no longer manages Binance.com and described himself as a shareholder.

The transfers span Ethereum, Bitcoin and Tron, putting the investigation across three blockchain networks as the company reviews the reports. Binance directed users to official channels for further updates.