Cryptocurrency giant Binance said on Thursday that it has frozen digital assets worth around $3bn (£2.24bn) to prevent them from being stolen while it investigates a security issue.
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".
"It does look like a hack on Binance," said Binance's former boss Changpeng Zhao, who remains a majority shareholder of the firm.
Two other major crypto platforms, Tether and Circle, said they have also frozen a total of about $2.4bn of assets in response to the potential Binance hack.
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.