Binance Freezes $5.3M Funds Aligning with Investigation on BtcTurk Exploit

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BtcTurk has faced a cyber attack affecting cryptocurrencies stored in the platform’s hot wallets. Binance CEO Richard Teng announces that the exchange has frozen $5.3 million in stolen funds. ZachXBT points out a possible connection between the BtcTurk exploit and the $54 million Avalanche transfer.

Binance CEO Richard Teng announced the crypto exchange’s alliance with the largest Turkish crypto exchange, BtcTurk, to investigate the latter’s recent exploit. Consequently, Binance froze over $5.3 million in stolen funds.

On June 22, BtcTurk revealed that the platform faced a cyber-attack that affected cryptocurrencies stored in hot wallets.

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