Binance Confirms Security Incident and Pauses Withdrawals

Binance, a crypto exchange, confirmed a security incident on October 29, 2026. Users reported funds drained from its wallets, the accounts that hold coins. As a precaution, it paused withdrawals on multiple networks, spokesperson Ross O'Leary said. Binance says customer funds are completely safe and it is investigating. Founder Changpeng Zhao said the company was likely hacked. Losses are unconfirmed.