Stablecoin issuers freeze over $2.6 billion following suspected Binance hack
CIE News ·
Based on reporting by CryptoSlate; not yet independently confirmed.
Major stablecoin issuers froze over $2.6 billion in stolen assets between October 29 and 30, 2026, amid an ongoing investigation into a suspected multi-billion-dollar breach at Binance.
Between late October 29 and October 30, 2026, major stablecoin issuers froze more than $2.6 billion in stolen assets linked to a suspected security breach at Binance, according to CryptoSlate. Tether CEO Paolo Ardoino stated the firm froze over 1.567 billion USDT across Ethereum and Tron, while Circle CEO Jeremy Allaire confirmed the restriction of more than 800 million USDC as the company coordinates with law enforcement.
Additional issuers enacted emergency measures across networks. CryptoSlate reported that Ripple froze approximately $200 million in Ripple USD (RLUSD), and Donald Trump-linked World Liberty Financial restricted $27 million in USD1. First Digital Trust enacted contract freezes on First Digital USD (FDUSD) routed to unauthorized addresses, with CEO Vincent Chok confirming the action halts secondary transfers on BNB Chain and Ethereum. Paxos also froze 1,906.67 PAX Gold (PAXG) tokens valued at over $8 million.
The freezes occurred as total outflow estimates from Binance reached up to $6.3 billion, according to tradingview.com. Binance stated that its initial investigation pointed to a compromised engineer's laptop that may have permitted unauthorized withdrawals, though it found no evidence of a private-key leak. Binance announced that verified frozen assets from the incident have reached $3 billion, which includes a separate freeze of $30.5 million in tokens executed by the Arbitrum Security Council.
Key facts
- Over $2.6B in stablecoins frozen
- 1.567B USDT frozen by Tether
- Over 800M USDC frozen by Circle
- Estimated hack impact $6.3B
Read the original at CryptoSlate