Cryptocurrency exchange Binance has suspended all deposit and withdrawal operations following a reported hacker attack, management said in a statement on its social media platform X. "As a precaution, all deposits and withdrawals are temporarily suspended while our team conducts security checks, freezes funds and works with law enforcement," the statement read. "We are working non-stop to resolve this issue. Binance will cover all losses." The company also states that the volume of funds frozen on the Binance exchange after an expected hacker attack amounted to approximately $3 billion, while it was previously reported that the losses amounted to $2.5 billion.