Binance Hack Update: Tether, Circle and Ripple Freeze Over…
By Abdelaziz Fathi
AI summary of the source article
Tether, Circle, and Ripple have moved to freeze over $2.5 billion in assets linked to a suspected Binance security incident. Binance confirmed it is investigating the situation and reiterated that user funds remain safe.
Why it matters
The response highlights the unusual ability of centralized stablecoin issuers to intervene in a cryptocurrency security incident.
Key facts
- Tether froze more than 1.567 billion USDT, Circle froze over $800 million in USDC, and Ripple froze roughly $200 million.
- Arkham tracked approximately $5.84 billion in cryptocurrency holdings across 55 addresses labeled 'binance-hacker-1029'.
- Binance acknowledged the potential security incident and stated its teams are actively investigating, while asserting user funds remain safe.
Source excerpt · FinanceFeeds
Stablecoin issuers Tether, Circle and Ripple have moved to freeze more than $2.5 billion in assets linked to the suspected Binance hack, as the cryptocurrency exchange acknowledged reports of a potential security incident and said its teams were investigating. The latest interventions substantially expand the amount of assets targeted for freezing since the first suspicious transfers emerged on Oc…