If this was a hack, that is at least a third of the funds frozen which is good. Bybit previously suffered a 1.4B hack a couple years ago, this one would eclipse that if the news is true. No word from @binance yet. That said, Binance is the largest crypto exchange in the world- and if this was a hack, they should be able to recover from it. The previously settled lawsuits with the US Gov and the settled amount was over 4B, so while this would be the largest hack of a centralized exchange that we have seen, it's also not something to panic about. Let's see as more news comes out.