Binance and Polymarket are investigating potential hacks. The former says it's frozen around $3 billion.

Binance halts transfers during checks

Binance said it had suspended deposits and withdrawals temporarily as its team examined the incident, froze funds and contacted law enforcement. The company also said it would cover all losses.

Changpeng Zhao, who said he no longer manages Binance but is a shareholder, wrote that customer funds were safe and would be fully covered. He described the event as appearing to be a hack.

Companies report frozen funds

Tether CEO Paolo Ardoino said his company had frozen more than $1.5 billion tied to the potential Binance hack. Circle CEO Jeremy Allaire reported that Circle froze over $800 million in connection with the incident.

The headline says Binance’s former froze around $3 billion, while the article gives separate figures from Tether and Circle totaling more than $2.3 billion. It does not provide a Binance-specific frozen-funds figure.

Polymarket resumes trading

Polymarket temporarily stopped trading on Thursday after users reported withdrawals they had not authorized. The company said a third-party provider had been compromised and that it had referred the matter to law enforcement.

Trading was back by 3 p.m. Eastern time, according to Polymarket. Its US exchange remained open and did not appear affected.

No link established between incidents

The two platforms were investigating security incidents on the same day, but there was no evidence that the events were connected. Polymarket’s statement called the matter a top priority.