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Binance investigates potential security issue as Tether and Circle freeze funds

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Coverage spectrum

Covered by 9 outlets across the spectrum.

9 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 issue and has suspended deposits and withdrawals while it runs security checks. Stablecoin issuers Tether and Circle froze funds linked to the incident. Tether said it froze more than $1.5 billion and Circle said more than $800 million. Binance has not confirmed whether funds were stolen, and it said user funds are safe. Founder Changpeng Zhao, who remains a major shareholder, said the exchange appeared to have been hacked. Reported totals of frozen assets range from about $1.5 billion to $2.5 billion depending on the source.

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 issue and has suspended all deposits and withdrawals.

    Reported byLeft3Center4Right1See the outletsHide the outlets
    Left
    NBC News, The Guardian, Al Jazeera English
    Center
    CNBC, Sky News, Deutsche Welle, BBC News
    Right
    New York Post

  2. Tether and Circle froze funds linked to the incident; Tether said it froze more than $1.5 billion and Circle said more than $800 million.

    Reported byLeft2Center2Right1See the outletsHide the outlets
    Left
    NBC News, The Guardian
    Center
    Deutsche Welle, BBC News
    Right
    New York Post

  3. Founder Changpeng Zhao said the exchange appeared to have been hacked.

    Reported byLeft2Center2Right1See the outletsHide the outlets
    Left
    The Guardian, Al Jazeera English
    Center
    Deutsche Welle, BBC News
    Right
    New York Post

  4. Binance said user funds are safe and that it will cover all losses.

    Reported byLeft1Center3Right1See the outletsHide the outlets
    Left
    The Guardian
    Center
    CNBC, Deutsche Welle, BBC News
    Right
    New York Post

  5. Binance has not confirmed whether any funds were stolen, and the full extent of the incident was not yet known.

    Reported byLeft1Center1See the outletsHide the outlets
    Left
    The Guardian
    Center
    Deutsche Welle

  6. Bitcoin fell about 5 percent after the incident, dropping below $77,000, according to Al Jazeera.

    One outletAl Jazeera English· Left

What is contested

Where accounts differ

Points the coverage does not agree on, and who says what.

  • Binance was hacked.

    Changpeng Zhao said it does look like a hack; Binance said it was investigating a potential security issue and had not confirmed that funds had been stolen.

  • The total amount of funds frozen.

    Binance, as reported by Al Jazeera and the BBC, put the total above $2.5 billion; Tether said it froze over $1.5 billion and Circle said over $800 million; the New York Post headline says over $2 billion.

How each side tells it

Compare views

Every side reports that Binance is investigating a potential security issue, that Tether and Circle froze funds, and that user funds are said to be safe. Left and right headlines lean on frozen amounts and the possible hack, while center headlines more often use the company’s “security issue” wording.

  • the left

    3 outlets

    Left headlines put the frozen dollar amount or the fear of a hack first, with NBC News and Al Jazeera naming the figure; the Guardian’s headline is an AP report.

    Fears of Binance hack prompt Tether, Circle to freeze over $1.5 billion in funds
    NBC NewsLeftAll left-leaning headlines

  • the center

    4 outlets

    Center headlines lead with the frozen assets and the company’s “security issue” wording, while the BBC and Deutsche Welle call it a suspected hack.

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

  • the right

    2 outlets

    The right side’s only supplied coverage is a Reuters report run by the New York Post, whose headline leads with the founder’s hack claim and the over $2B freeze.

    Binance founder says crypto exchange may have been hacked — leading to firms freezing over $2B
    New York PostRightAll 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.

Mantle found no loaded language in this coverage. Every headline and opening was checked against Mantle’s published word list, and Mantle’s AI read 8 of the 9 articles in context when it wrote the analysis. Straight reporting often has none.

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

3 outlets

Leads with

  • dollar amount frozen
  • possible hack
  • Binance investigating
See the 3 headlines from the leftHide the headlines
  • Al Jazeera EnglishLeft

    Binance says $2.54bn in crypto funds frozen amid ‘potential security issue’

    Binance founder says world's largest crypto exchange appears to have been hacked.

    Read at Al Jazeera English (opens in a new tab)
  • The GuardianLeftAssociated Press report

    World’s largest crypto exchange investigating reports of potential hack

    Binance said the extent of damages was not known and had not confirmed whether funds had been pilfered Binance, the world’s largest cryptocurrency exchange, said on Thursday it is investigating reports of a potential security issue as its founder said the incident “does look …

    Read at The Guardian (opens in a new tab)
  • NBC NewsLeft

    Fears of Binance hack prompt Tether, Circle to freeze over $1.5 billion in funds

    Cryptocurrency exchange Binance is investigating a potential hack after a series of very large transfers on the platform caught the attention of traders.

    Read at NBC News (opens in a new tab)

From the center

4 outlets

Leads with

  • frozen assets
  • security issue wording
  • suspended deposits and withdrawals
See the 4 headlines from the centerHide the headlines
  • BBC NewsCenter

    Crypto giant Binance freezes $2.5bn of assets over suspected hack

    The firm said transactions are suspended while it conducts security checks and will "cover all losses".

    Read at BBC News (opens in a new tab)
  • Deutsche WelleCenter

    Binance crypto platform suspends trades amid suspected hack

    The platform suspended some trading while crypto companies froze billions in their respective currencies. The full extent of the possible hack was not yet clear.

    Read at Deutsche Welle (opens in a new tab)
  • Sky NewsCenter

    Crypto worth billions frozen over 'potential security issue'

    Crypto worth billions of dollars has been frozen as a major exchange investigates a "potential security issue".

    Read at Sky News (opens in a new tab)
  • CNBCCenter

    Circle, Tether freeze funds impacted by potential Binance 'security issue'

    Binance, the world's largest crypto exchange, said it was actively investigating the matter and that funds are "completley safe."

    Read at CNBC (opens in a new tab)

From the right

2 outlets

Leads with

  • founder’s hack claim
  • over $2B frozen
See the 2 headlines from the rightHide the headlines
  • The Washington TimesRight

    Binance reports 'potential security issue' as stablecoin issuers freeze millions in funds

    Binance, the world's largest cryptocurrency exchange, said Thursday it's investigating reports of a potential security issue as its founder said the incident "does look like a hack on Binance."

    Read at The Washington Times (opens in a new tab)
  • New York PostRightReuters report

    Binance founder says crypto exchange may have been hacked — leading to firms freezing over $2B

    Binance, the world's largest cryptocurrency exchange, said its teams were reviewing all relevant information with urgency and added that user funds were safe.

    Read at New York Post (opens in a new tab)

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

Times are the ones the outlets published in their own feeds, in Eastern time. Opinion is left out.

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