On June 22, Binance CEO Richard Teng posted on social media, "Binance is assisting the Turkish cryptocurrency trading platform BtcTurk in its investigation and has frozen more than $5.3 million in stolen funds. Binance's investigation and security teams work around the clock and will provide further updates as needed." Earlier, the Turkish cryptocurrency trading platform BtcTurk issued an announcement stating that the platform had suffered a cyber attack and had suspended all cryptocurrency deposits and withdrawals.