CryptoMediumUpdated•Originally published 29 October 2026•Updated 29 October 2026•
1 min read
Tether Freezes Billions as Suspected Binance Hack Estimates Climb to $5.7B
Key Facts
1Tether has frozen over $1.567 billion in USDT tokens linked to a suspected hack of the Binance exchange.
Tether has frozen massive amounts of USDT as estimated suspicious outflows from Binance climbed to between $5.5 billion and $5.7 billion. Crypto Briefing reported that the intervention occurred alongside similar actions by Circle to contain stolen funds across the Ethereum, Bitcoin, and Tron networks.
The massive outflows were detected from Binance hot wallets on October 29, 2026, prompting immediate freezes by stablecoin issuers. Former CEO Changpeng Zhao noted the incident resembled a hack while asserting that user funds remain secure and fully covered, though Binance has yet to officially confirm the total extent of the losses.