Binance, one of the biggest cryptocurrency marketplaces by volume, is trying to calm angry customers who claim their digital coins were sold without their permission.

"All funds are safe," wrote Zhao Changpeng, CEO of Asia-based Binance, in a tweet Wednesday. "There were irregularities in trading activity, automatic alarms triggered. Some accounts may have been compromised by phishing from before. We are still investigating."

He then sent a second tweet: "We have localized the irregular trades, they will be reversed. All funds are safe, thanks to the fast alarm."

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.