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Tether, Circle freeze $2.38 billion after Binance reports security incident

Channelnewsasia • October 29, 2026

Oct 29 : Circle and Tether on Thursday froze over $2.38 billion in stablecoin currency after Binance said it was actively investigating a potential security issue.

Binance, the world's largest cryptocurrency exchange, said in a post on X its teams were reviewing all relevant information with urgency and added that user funds were safe.

Crypto firm Ripple had frozen roughly $200 million, Binance co-founder Yi He said on X.

Binance co-founder Changpeng Zhao, who no longer manages the company, wrote on X that the incident "looked like a hack".

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Spot as many words as you can Show More Show Less Tether, which issues the world's largest stablecoin, said it froze nearly $1.57 billion related to the hack, with Circle freezing over $800 million. Circle, another stablecoin issuer, is closely tracking reports of a potential exploit involving Binance, its co-founder and CEO Jeremy Allaire wrote in a post on X, adding that it will continue supporting the investigation. Binance has over 335 million registered global users, according to its website. Crypto exchanges such as Binance are platforms where people buy, sell or trade digital assets. Binance.US, a separate cryptocurrency exchange, said it was not affected by the security incident.

Tether, which issues the world's largest stablecoin, said it froze nearly $1.57 billion related to the hack, with Circle freezing over $800 million.

Circle, another stablecoin issuer, is closely tracking reports of a potential exploit involving Binance, its co-founder and CEO Jeremy Allaire wrote in a post on X, adding that it will continue supporting the investigation.

Binance has over 335 million registered global users, according to its website. Crypto exchanges such as Binance are platforms where people buy, sell or trade digital assets.

Binance.US, a separate cryptocurrency exchange, said it was not affected by the security incident.

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This article is one source in a clustered incident — the cluster page carries the summary, timeline and every other outlet covering it.

Binance Investigates Major Hack: Up to $5.8 Billion Potentially Stolen On October 29, 2026, Binance, the world's largest cryptocurrency exchange, reported a potential security breach involving significant outflows from its hot wallets, with estimates suggesting up to $5.8 billion may have been drained. The breach was first flagged by on-chain analysts, revealing that large amounts of Ethereum and stablecoins were transferred to a newly created wallet funded through Tornado Cash, a cryptocurrency mixer. Binance co-founder Changpeng Zhao indicated that the incident appears to be a hack and stated that user funds are expected to be fully covered. In response, Tether and Circle froze approximately $2.4 billion in assets linked to the incident. As of October 30, Binance confirmed that $2.54 billion in assets had been frozen while investigations continue. The hack, if confirmed, would represent the largest theft in cryptocurrency history, surpassing the $1.5 billion Bybit hack in 2025. 45 sources 70

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Tether, Circle freeze $2.38 billion after Binance reports security incident

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