Binance Client Executives Kidnapped, Forced to Empty Crypto Wallets — CZ Says Total Loss Was $12.5 Million
Binance CEO Changpeng Zhao (CZ) has shared a story of how executives of a Binance client were abducted and forced to empty their crypto wallets. CZ detailed how the cryptocurrency exchange was able to track the transactions and freeze over 94% of the stolen funds. CZ Shares Story of How Binance Freezes Stolen Funds Binance CEO Changpeng Zhao (CZ) shared a story of how the crypto exchange froze stolen funds on social media platform X Friday. Noting that the event was real, he explained that executives of a client were abducted while on a business trip in Montenegro. Emphasizing that they were forced to empty their crypto wallets, CZ said the executives suffered a total loss of about $12.5 million. Zhao detailed that Binance investigated the on-chain activities of the crypto transactions and reached out to its partners to freeze the wallet with stolen funds. He revealed that all the funds were taken in tether ( USDT ) and transferred to a Tron wallet. According to CZ, Binance managed