Binance said it is investigating “a potential security issue” on its trading platform and that user funds are safe, CNBC reported.

The exchange, the world’s largest by daily trading volume, has not confirmed, as of publication, that it suffered an exploit. Circle CEO Jeremy Allaire said Thursday evening that the company had frozen more than $800 million in USD Coin tied to the incident, and Tether CEO Paolo Ardoino said his firm had frozen more than $1.5 billion of its stablecoin. Crypto data provider Arkham Intelligence linked nearly $6 billion in digital assets — including bitcoin, ether, solana and various stablecoins — to 55 wallet addresses it has tied to the potential exploit. Bitcoin slid more than 3% and traded below $80,000 after the executives’ statements, according to NBC News.