Two separate incidents of theft targeting Binance clients have recently come to light. In the first incident, an attacker stole $27 million worth of Tether (USDT) from a victim connected to Binance. While some reports suggest that Binance’s own contracts were hacked, a Binance spokesperson stated that the user made a valid withdrawal from Binance, but the DeFi wallet that received the funds was compromised. The stolen USDT was then swapped for Ethereum and transferred to various crypto exchanges before being converted to Bitcoin. The second incident involved Binance CEO Changpeng Zhao reporting a theft of approximately $12.5 million. Executives from a client were lured to Montenegro on a business trip, where they were abducted and forced to empty their wallets. Binance managed to freeze a significant portion of the stolen funds with the help of its partners. While the two attacks targeted Binance clients and involved significant amounts of USDT, there is no apparent connection between the two incidents.

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Information	Details
Geography	Global
Countries	🇲🇪
Sentiment	negative
Relevance Score	1
People	Changpeng Zhao, ZachXBT
Companies	Binance, CoinDesk, Tron
Currencies	Ethereum, Tether, Bitcoin
Securities	None