CZ Thanks US Secret Service for Freezing Stolen Funds Within Minutes as Federal Agencies Help Binance Recover Assets

Binance founder Changpeng Zhao (CZ) thanked the US Secret Service and other federal agencies for acting within minutes to help track and freeze stolen funds after Thursday’s incident, saying their speed helped contain the damage. The Secret Service said its investigators worked with industry partners to freeze a significant portion of the cryptocurrency, and that the work continues with the FBI, IRS Criminal Investigation and the Justice Department. Binance has frozen about $3 billion so far and has already replenished 90% of the affected assets so users are not affected. “You acted within minutes to help track and freeze stolen funds, and the work continues,” CZ wrote on X. Rapid Response Helped Contain the Impact CZ said the agencies’ speed, expertise and dedication helped reduce the risk of ripple effects across crypto, “and, may I say, even the broader financial markets.” He also thanked the industry partners involved in tracing and freezing the funds. Federal Agencies Working Together The Secret Service said it is investigating the theft of more than $6 billion in cryptocurrency from Binance. The investigation involves the FBI, IRS Criminal Investigation, the US Attorney’s Offices for the District of Columbia and the Central District of California, the Justice Department’s Computer Crime and Intellectual Property Section, and the Justice Department’s National Security Division.   Users Protected as Recovery Continues Binance is working with law enforcement, blockchain intelligence firms, token issuers and other exchanges to trace and recover the remaining funds. The exchange has committed to covering all losses itself and has already replenished 90% of the affected assets, with ten major tokens, including BTC, ETH and USDT, fully backed. Withdrawals reopened in phases on Sunday, November 1.