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Binance investigates potential security issue as crypto firms freeze funds

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Coverage spectrum

Covered by 34 outlets across the spectrum.

66 articles in total. The spectrum counts each outlet once and leaves opinion out. How we measure bias

Yellow Binance logo and wordmark on a light background, shown at an angle.
Image via Al Jazeera EnglishHow images are chosenReport this image

Binance, the world’s largest cryptocurrency exchange, said it is investigating a potential security incident and has suspended some transactions. Stablecoin issuers Tether and Circle froze funds linked to the platform, and reported totals for the frozen amount range from about $1.5 billion to $3 billion. Binance’s founder said the incident looks like a hack. Binance said it has frozen affected assets and will cover losses once its investigation is complete. The blockchain intelligence firm TRM Labs said with high confidence that a North Korean hacking unit called TraderTraitor was behind the transfer of roughly $6.3 billion out of Binance wallets.

Headline and summary written by Mantle’s AI from the coverage below, under published rules. How this works

What happened

Key points

Each point shows who reports it, from Far Left to Far Right.

  1. Binance said it is investigating a potential security incident.

    Across the spectrumReported byLeft2Center2Right2Far Right2See the outletsHide the outlets
    Left
    NBC News, The Guardian
    Center
    CNBC, Sky News
    Right
    New York Post, The Washington Times
    Far Right
    Just the News, The Epoch Times

  2. Stablecoin issuers Tether and Circle froze funds linked to the platform.

    Reported byLeft1Center2Right2See the outletsHide the outlets
    Left
    NBC News
    Center
    CNBC, Deutsche Welle
    Right
    New York Post, The Washington Times

  3. Reported totals for the frozen funds range from about $1.5 billion to $3 billion.

    Reported byLeft2Center1Right1Far Right1See the outletsHide the outlets
    Left
    NBC News, Al Jazeera English
    Center
    BBC News
    Right
    New York Post
    Far Right
    The Epoch Times

  4. Binance’s founder said the incident “does look like a hack on Binance.”

    Reported byLeft2Right2See the outletsHide the outlets
    Left
    The Guardian, Al Jazeera English
    Right
    New York Post, The Washington Times

  5. Binance reported a security incident involving as much as $6.3 billion in cryptocurrency.

    One side only: the rightReported byFar Right2See the outletsHide the outlets
    Far Right
    Just the News, The Epoch Times
Show 2 more pointsShow fewer points

  1. Binance said it will cover losses once its investigation is complete.

    Reported byLeft1Center1Far Right1See the outletsHide the outlets
    Left
    The New York Times
    Center
    BBC News
    Far Right
    Just the News

  2. According to TRM Labs, a North Korean hacking unit called TraderTraitor was behind the attack, with high confidence.

    One outletJust the News· Far Right

How each side tells it

Compare views

All sides report Binance is investigating a potential security issue and stablecoin issuers froze funds. The main difference is emphasis: right headlines stress the founder’s hack remark and the $6.3 billion figure, while left and center headlines say potential or suspected hack.

  • the left

    14 outlets

    Left headlines use hedged terms like potential hack and security issue, though the New York Times states a $6 billion crypto hack outright with a what-to-know frame.

    Binance Lost Over $6 Billion in Crypto Hack. Here’s What to Know.
    The New York TimesLeftAll left-leaning headlines

  • the center

    13 outlets

    Center headlines use hedged terms such as potential security issue, suspected hack and frozen assets, and stress the frozen billions over attribution.

    Crypto giant Binance freezes $2.5bn of assets over suspected hack
    BBC NewsCenterAll center headlines

  • the right

    7 outlets

    Right headlines lead with the founder’s hack remark or freezes, two being Reuters or AP reports; far-right outlets headline the $6.3 billion figure and Just the News names North Korea.

    North Korean unit likely behind $6.3 billion hack on Binance, blockchain intelligence firm says
    Just the NewsFar RightAll right-leaning headlines

The words they chose

Language to notice

Words that carry a judgement beyond the facts. Tap a highlighted word anywhere on the page to see why.

  • Left3

    shattering the recordfrenetic battleTrump-Pardoned Billionaire’s Empire

  • Center3

    suffersraising questionsBiggest hack in history

  • Right5

    North Korean hackers stealsnatchFever Pitchnotorious

In the outlets’ own words

  • Loaded verb

    shattering the recordMore neutral: exceeding the previous record

    The verb dramatizes a figure that can be stated as a plain comparison with the previous record.

    Hackers stole over $6 billion in cryptocurrency on Thursday, shattering the record for the largest such heist as multiple investigators pointed the finger at…

    Used byCNN (Left)

  • Sensational language

    frenetic battleMore neutral: effort

    The phrase adds drama to a race to freeze funds that can be described plainly.

    …firms had managed to freeze about $3 billion of the stolen loot amid a frenetic battle with the hackers to find and control the digital money.

    Used byCNN (Left)

  • Loaded verb

    suffersMore neutral: reports

    The verb casts Binance as a victim before the cause is established; the company itself described a security incident.

    Binance suffers 'security incident'; N.

    Used byUnited Press International (Center)

  • Vague attribution

    raising questionsMore neutral: state the question and who is asking

    The writer is raising the question while pretending someone else did.

    …crypto assets have been frozen following a potential Binance security breach, raising questions about whether the funds can be recovered.

    Used byCNBC (Center)

Show 7 more phrasesShow fewer

  • Absolutist framing

    North Korean hackers stealMore neutral: Hackers stole $6.3B from Binance; a blockchain firm links them to North Korea

    Presents a firm’s high-confidence attribution as settled fact in the headline, while the same outlet’s description says the hackers allegedly stole the funds.

    North Korean hackers steal $6.3B from Binance in ‘largest bank heist in human history’

    Used byNew York Post (Right)

  • Loaded verb

    snatchMore neutral: Hackers move $6.3 billion from

    Describes unidentified attackers taking funds through a quick grab, a framing the coverage does not establish, since the company describes unauthorized withdrawals.

    High-tech robbers snatch $6.3 billion from Binance crypto exchange

    Used byThe Washington Times (Right)

  • Loaded modifier

    Trump-Pardoned Billionaire’s EmpireMore neutral: Binance Hit by Record $6.3 Billion Heist

    The headline ties the story to Zhao’s pardon, which the article does not connect to the theft, so the hack is framed around his political history.

    Trump-Pardoned Billionaire’s Empire Hit by Record Heist

    Used byThe Daily Beast (Far Left)

  • Absolutist framing

    Biggest hack in historyMore neutral: One of the largest crypto hacks reported so far

    States a superlative as settled fact, while the BBC reports the hack is only believed to be the largest of its kind.

    Biggest hack in history: Cryptocurrency giant Binance loses $6.3 billion

    Used byFrance 24 (Center)

  • Sensational language

    Fever PitchMore neutral: rising concern

    “Fever pitch” asserts an emotional intensity that the reporting does not measure.

    Hackers Just Committed Largest Crypto Heist In History As Cybersecurity Fears Reach Fever Pitch

    Used byThe Daily Caller (Far Right)

  • Loaded modifier

    notoriousMore neutral: known for (describe)

    Judgement of reputation as fact.

    A notorious North Korean hacking unit may have compromised a single Binance employee’s laptop to…

    Used byNew York Post (Right)

  • Sensational language

    stunning AI-powered infiltrationMore neutral: AI-powered intrusion

    “Stunning” adds a judgement of impressiveness to a breach whose method is still unconfirmed.

    …of the cryptocurrency exchange – indicating a potential inside job or a stunning AI-powered infiltration of the company’s software.

    Used byNew York Post (Right)

Words quoted from someone else (1)Hide the quoted words

Loaded words that outlets reported someone else saying. They show what was said, not how the outlet chose to say it.

  • Sensational language

    Quoted

    largest bank heist in human historyMore neutral: the largest crypto theft on record

    Uses a superlative comparison to a bank robbery to describe a crypto exchange theft, which exaggerates the scale beyond the reported figures.

    North Korean hackers steal $6.3B from Binance in ‘largest bank heist in human history’

    Quoted byNew York Post (Right)

    These are an unnamed insider’s words. The outlets are reporting them.

See the full language guide

See for yourself

Side by side

What each side leads with and what it leaves out. Open a side to read its headlines.

From the left

14 outlets

Leads with

  • frozen funds
  • investigation of a potential hack
  • size of the losses

Leaves out

  • TRM Labs attribution to North Korea

Reported by other sides, not found in this side’s coverage.

See the 15 headlines from the leftHide the headlines

From the center

13 outlets

Leads with

  • frozen assets
  • security checks
  • suspended trading

Leaves out

  • TRM Labs attribution to North Korea

Reported by other sides, not found in this side’s coverage.

See the 13 headlines from the centerHide the headlines

From the right

7 outlets

Leads with

  • founder’s hack remark
  • $6.3 billion figure
  • North Korean attribution
See the 9 headlines from the rightHide the headlines

The stories you read build My Mix, a private picture of which sides cover the stories you choose, kept on this device. What is My Mix?

The left is Far Left and Left together. The right is Right and Far Right together. Every outlet keeps its own five-point rating.

Who reported it when

How the coverage built up

  • Left

    29 min later

    Its first report, Oct 29, 6:46 PM EDT

  • Center

    First to report

    CNBC, Oct 29, 6:17 PM EDT

  • Right

    1 hr 26 min later

    Its first report, Oct 29, 7:43 PM EDT

See the order the outlets reported inHide the order
  1. CNBCCenterOct 29, 6:17 PM EDT
  2. NBC NewsLeftOct 29, 6:46 PM EDT
  3. Sky NewsCenterOct 29, 7:40 PM EDT
  4. New York PostRightOct 29, 7:43 PM EDT
  5. The Washington TimesRightOct 29, 7:47 PM EDT
  6. The GuardianLeftOct 29, 8:02 PM EDT
  7. Al Jazeera EnglishLeftOct 29, 8:29 PM EDT
  8. Deutsche WelleCenterOct 29, 8:55 PM EDT
  9. BBC NewsCenterOct 29, 8:59 PM EDT
  10. Financial TimesCenterOct 29, 9:02 PM EDT
  11. BloombergLeftOct 29, 9:49 PM EDT
  12. HuffPostFar LeftOct 29, 9:56 PM EDT
  13. Business InsiderLeftOct 29, 10:19 PM EDT
  14. The HillCenterOct 29, 10:41 PM EDT
  15. The New York TimesLeftOct 29, 11:07 PM EDT
  16. The Epoch TimesFar RightOct 29, 11:37 PM EDT
  17. France 24CenterOct 29, 11:48 PM EDT
  18. CNNLeftOct 30, 12:08 AM EDT
  19. Daily MailRightOct 30, 12:35 AM EDT
  20. United Press InternationalCenterOct 30, 1:18 AM EDT
  21. ABC NewsLeftOct 30, 5:02 AM EDT
  22. NewsNationCenterOct 30, 5:21 AM EDT
  23. MarketWatchCenterOct 30, 5:50 AM EDT
  24. The Boston GlobeFar LeftOct 30, 7:18 AM EDT
  25. NPRLeftOct 30, 7:21 AM EDT
  26. CBS NewsLeftOct 30, 7:26 AM EDT
  27. Straight Arrow NewsCenterOct 30, 8:00 AM EDT
  28. The Daily BeastFar LeftOct 30, 9:49 AM EDT
  29. Scripps NewsCenterOct 30, 10:07 AM EDT
  30. Breitbart NewsFar RightOct 30, 10:16 AM EDT
  31. PBS NewsHourCenterOct 30, 10:25 AM EDT
  32. MS NOWFar LeftOct 30, 11:55 AM EDT
  33. The Daily CallerFar RightOct 30, 11:57 AM EDT

Times are the ones the outlets published in their own feeds, in Eastern time. Opinion is left out. Just the News gave only a date, so it is not placed.

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