Crypto giant Binance investigating security concerns amid reports of hack: 'User funds are completely safe'

Cryptocurrency giant Binance said users' funds are "completely safe" as reports circulated that the platform may have been hacked. Representations of cryptocurrencies are seen in front of displayed Binance logo in this illustration taken November 10.

(REUTERS)A Binance spokesperson told HT.com that Binance is aware of reports of a "potential security issue and we are actively investigating." "At this stage, we have not confirmed any impact to user funds. Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have verified information," the spokesperson said.

“Users should remain cautious of scams and should not trust unofficial links, messages, or requests for account information.” Separately, Binance also updated users on X amid the security concerns. Our teams are aware of reports of a potential security issue and are actively investigating.

User funds are completely safe," Binance said. On October 23, Binance said in a press release that its AI-driven security systems have been able to prevent 4.6 billion in crypto losses in the first half of 2026. It involved more than 8 million users on the platform.

The press release said that Binance implements "eight layers of account protection from a single, real-time response - alerting, verifying, and intervening in proportion to the risk, so user experience stays smooth and accounts stay secure." Binance is the world's largest cryptocurrency exchange by trading volume and registered users.

Shamik is a journalist covering the United States for Hindustan Times. He has more than four years of experience reporting on US politics, sports, and major breaking stories across fast-moving cycles. He previously worked at Times Now and Sportskeeda, building strong newsroom instincts and digital storytelling skills.

At HT.com, he focuses on day-to-day coverage of US political developments while also handling high-impact stories that demand speed, accuracy, clarity, and context under pressure. Shamik has extensive experience covering NFL game days over the past two years, coordinating live updates, analysis, and explainers.

He is particularly drawn to large news moments such as US elections and the Super Bowl, where he thrives at the news desk working alongside the team. He holds degrees in Media Studies from Jamia Millia Islamia and English Literature from Jadavpur University.

Before entering journalism, he briefly worked in digital marketing and political consultancy roles. Currently a Senior Content Producer at HT Digital, he is driven by curiosity, discipline, and a constant desire to explore new and obscure topics.

Outside work, he enjoys reading, films, sports, and learning continuously.Read More