Zhao added that two other crypto platforms, Tether and Circle, have also frozen around $1.7bn in stolen assets.
Binance is the world's largest crypto exchange by daily trading volumes.
Cryptocurrency giant Binance said on Thursday that it has frozen digital assets worth more than $2.5bn (£1.87bn) to prevent them from being stolen while it investigates a security issue.
The firm noted that transactions are suspended while it conducts security checks and will"cover all losses". Binance added that the amount of funds frozen may continue to increase as its teams work closely with law enforcement and other partners to trace and seize additional assets. The company stated in a series of alerts online that all deposits and withdrawals are temporarily suspended while its teams conduct security checks, and that the firm will"cover all losses".
"Please rely only on official Binance channels for updates,"the company said, adding that users' funds are safe.
The company said as part of a series of alerts online that all deposits and withdrawals are temporarily suspended while its teams conduct security checks and that the firm will"cover all losses".
The firm said transactions are suspended while it conducts security checks and will"cover all losses".
Binance said the amount of funds frozen may continue to increase as its teams work closely with law enforcement and other partners to trace and seize additional assets.
Please rely only on official Binance channels for updates,"it said, adding that users' funds are safe.