Binance will cover all hacking losses, deposits and withdrawals are temporarily suspended Binance co-founder Yi Hu stated that user funds are safe. Binance will cover all hacking losses. Deposits and withdrawals have been temporarily suspended while the team conducts security checks, freezes funds and works with law enforcement. A full post-mortem will be shared once the inquest is complete. Please only rely on official Binance channels for updates. - Link.