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

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

By Reuters

Updated - October 30, 2026 at 10:16 AM.

Circle and Tether froze over $2.38 billion ​in stablecoin currency after Binance said ‌it was actively investigating a ​potential security issue. | Photo Credit: Dado Ruvic

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".

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.

Published on October 30, 2026

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