Binance Cofounder Says User Funds Safe After Suspected Hack as Tether and Circle Freeze $1.79B in Stablecoins

Changpeng Zhao said Binance user funds are safe and the activity does look like a hack on the exchange. Zhao, who no longer manages Binance, expects all user funds to be fully covered. He thanked Tether and Circle for freezing about $971 million in USDT and $823 million in USDC.