Binance is investigating a possible hack on Thursday, according to a company spokesperson, though it’s still unclear just how much damage has been done.

“Our teams are aware of reports of a potential security issue and are actively investigating. Rest assured that user funds are completely safe,” a spokesperson for the crypto platform told Gizmodo over email.

“Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have verified information,” the spokesperson continued.

The crypto company warned that, “Users should remain cautious of scams and should not trust unofficial links, messages, or requests for account information.”

It’s still unknown how much has been pilfered, with some estimates ranging from $1.7 billion to as high as $5.7 billion, according to Coindesk.

Changpeng Zao, the founder of Binance who’s no longer head of the company, tweeted: “User funds are safe! It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m).”

But Coindesk notes that it could be much higher, as crypto trackers watch over $5 billion moving through Arkham. But as crypto reporter Molly White notes, that is likely an overestimation.

The CEO of stablecoin company Tether, Paolo Ardoino, wrote on X Thursday that his company “froze more than 1.567B USDT related to a potential Binance exchange hack.” Ardoino wrote that “Protecting the industry and our partners is our main priority. Stay safe everyone.”

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