Exchanges

Binance freezes some of the $3.6 million stolen in Cryptopia breach

January 17, 2019, 2:24PM EDT

Binance CEO Changpeng Zhao has confirmed freezing a portion of the funds stolen from Cryptopia earlier this week, expressing his uncertainty on Twitter as to what motivated the hackers to send the stolen tokens their way. “Social media will be pretty fast to report it, and we will freeze it,” he said in a tweet. “It's a high risk maneuver for them,” he added.

CZ's previous tweet reacting to the hack, where he warned against cryptocurrency holders storing their coin on personal storage devices, provoked a backlash from some Twitter users. The tweet suggested to “only use the most reputable, proven secure, exchanges,” which led to some respondents accusing Zhao of overconfidence regarding his platform's security. Later, the Binance CEO clarified that the tweet was not meant to suggest which option would be more advisable.

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