Tether Says It Froze More Than $1.5B Linked to the Binance Theft
Summary
Tether said on November 2 that it froze more than $1.5 billion in USDT linked to the late-October Binance attack, acting with investigators and industry partners. The freeze restricts transfers but does not establish that the funds were recovered or will reach victims. The case highlights stablecoin issuers’ ability to block designated addresses, which can help preserve suspected stolen assets but also raises concerns about mistaken restrictions, appeals, transparency and issuer control. Further validated recovery figures and clear unfreezing procedures will show what happened to the frozen tokens.
