According to a BBC News report, the firm Binance has frozen $2.5bn of assets over a suspected hack. The BBC headline describes Binance as a crypto giant.

BBC News reported that the firm said deposits and withdrawals are suspended while its teams conduct security checks. According to the same report, Binance said it will "cover all losses," a statement the summary gives without further detail.

The BBC report does not fully align on the scope of the action. Its headline describes a freeze of $2.5bn in assets, while its summary describes the suspension of deposits and withdrawals. Neither source says whether the two measures cover the same funds or how the $2.5bn figure relates to the suspended activity.

BBC News did not report what the suspected hack involved, who is suspected of carrying it out, or how much in losses has been identified so far. The summary does not describe the firm's security checks beyond stating that its teams are conducting them. Its summary also gives no timetable for when deposits and withdrawals might resume.

This account rests on a single source. No other outlet's coverage of the matter was available for this report, so the details above are limited to what BBC News published. Readers seeking further developments would need follow-up reporting, which was not among the sources available for this story.

Sources: BBC News: Crypto giant Binance freezes $2.5bn of assets over suspected hack.