Tether Says It Froze More Than $1.5B Linked to the Binance Theft

Tether said on November 2 that it froze more than $1.5 billion in USDT tied to the late-October Binance attack, acting alongside investigators. The freeze covers tokens linked to the exploit, in which roughly $570 million was drained from Binance’s BNB Chain bridge, with the exchange later estimating about $100 million in actual losses after recoveries. Tether’s action matters because it demonstrates centralized stablecoin issuers can immobilize stolen funds across chains faster than on-chain tracing alone. Watch next for how much of the frozen USDT is returned to Binance and whether other stablecoin issuers follow with similar blacklisting measures.