Binance Probes Suspected $5.8 Billion Hack as Tether and Circle Freeze $1.8 Billion in Stablecoins
Updated — view changes (3)
· body · New information from a source
Tether froze 971 million USDT in a wallet linked to a suspected Binance security incident, while Circle also froze stablecoin transfers.On-chain data tallies the suspected drain at $5.57 billion across three blockchains.Binance said it is investigating a potential security issue but has not confirmed any impact to user funds.- Binance is investigating a suspected security breach after on-chain trackers flagged large outflows from its hot wallets, according to The Block and Decrypt.
- The Block reported suspicious outflows reaching as high as $5.8 billion, while Decrypt's on-chain tally put the suspected drain at $5.57 billion spread across three blockchains.
- Tether has frozen 971 million USDT held in a wallet linked to the suspected drain, according to The Defiant.
- Combined with action from Circle, Tether and Circle together froze about $1.8 billion in USDT and USDC tied to the incident, according to Decrypt and The Block, which cited a figure of $1.79 billion.
- Binance has acknowledged it is investigating a potential security issue but has not confirmed any impact to user funds, according to The Defiant.
- The size of the suspected drain and the scale of the stablecoin freezes mark one of the largest exchange security incidents reported this year, though the exact cause and final loss figures remain unconfirmed pending Binance's investigation.
· summary · New information from a source
Tether and Circle froze $1.8 billion in stablecoins after suspected $5.57 billion drain from Binance across multiple blockchains.- Binance is investigating suspicious outflows reaching as high as $5.8 billion after Tether and Circle froze roughly $1.8 billion in USDT and USDC tied to the incident.
· headline · New information from a source
Tether and Circle freeze $1.8 billion USDT and USDC as Binance investigates suspected $5.57 billion drain- Binance Probes Suspected $5.8 Billion Hack as Tether and Circle Freeze $1.8 Billion in Stablecoins
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Binance is investigating a suspected security breach after on-chain trackers flagged large outflows from its hot wallets, according to The Block and Decrypt. The Block reported suspicious outflows reaching as high as Binance investigating hack as suspicious outflows reach up to $5.8 billion.
, while Decrypt’s on-chain tally put the suspected drain at An on-chain tally puts the suspected Binance drain at $5.57 billion across three blockchains, as Tether and Circle froze $1.8 billion.
spread across three blockchains.
Tether has frozen Tether Freezes 971 Million USDT in Wallet Linked to Suspected Binance Drain.
USDT held in a wallet linked to the suspected drain, according to The Defiant. Combined with action from Circle, Tether and Circle together froze about Binance Drained of $5.5 Billion in Suspected Hack, Tether and Circle Freeze $1.8 Billion.
in USDT and USDC tied to the incident, according to Decrypt and The Block, which cited a figure of Tether and Circle froze $1.79 billion in USDT and USDC after billions moved out of Binance hot wallets.
.
Binance has acknowledged it is investigating a potential security issue but has not confirmed any impact to user funds, according to The Defiant. The size of the suspected drain and the scale of the stablecoin freezes mark one of the largest exchange security incidents reported this year, though the exact cause and final loss figures remain unconfirmed pending Binance’s investigation.
Sources: The Defiant, Decrypt, The Block
This article is for information only and is not financial advice.
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Story so far 2 updates
- flashTether and Circle freeze $1.8 billion USDT and USDC as Binance investigates suspected $5.57 billion drainfirst reported · 2 sourcesthedefiant.io · decrypt.co
- storyBinance Probes Suspected $5.8 Billion Hack as Tether and Circle Freeze $1.8 Billion in Stablecoinsupdate · 3 sourcesthedefiant.io · decrypt.co · theblock.co
