CryptoSlate· Oluwapelumi Adejumo·· 1d agoSelected
Tether, Circle, Ripple and World Liberty Financial freeze $2.6 billion linked to suspected Binance breach
Original source: CryptoSlateRead original
AI brief
Stablecoin issuers Tether, Circle, Ripple and World Liberty Financial froze over $2.6 billion in digital assets tied to a suspected Binance security breach involving nearly $6 billion in outflows. Tether froze $1.567 billion in USDT and Circle froze $823 million in USDC. Ripple froze $200 million and World Liberty Financial restricted $27 million. The freezes followed Kairos Research estimating about $5.7 billion leaving Binance hot wallets via a security breach in late October.
Why it matters
The coordinated freeze by major stablecoin issuers highlights the industry's ability to respond to large-scale security breaches and underscores the scale of funds movement from Binance-linked wallets.
Source: CryptoSlate · cryptoslate.com