Tether has frozen over $1.57 billion in USDT tokens following a suspected hack of the Binance exchange. This amount is significantly larger than initial reports of $90 million and is linked directly to the Binance incident rather than previous smaller exploits. Circle also intervened alongside Tether, indicating a coordinated effort between major stablecoin issuers to secure funds. The freeze was finalized on October 30 as part of the ongoing response to the attack.
Estimated suspicious outflows from Binance wallets have surged to $5.7 billion across multiple chains, triggering expanded asset freezes by Tether and Circle.
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