Trump’s crypto firm joins Tether, Circle, and Ripple in $2.6 billion stablecoin freeze as Binance hack outflows near $6 billion
Summary
Tether, Circle, Ripple, World Liberty Financial and Paxos reportedly froze more than $2.6 billion in assets linked to a suspected Binance security breach, in which research firm Kairos estimates about $5.7 billion left Binance hot wallets. The activity allegedly involved transfers of multiple tokens across Ethereum, Bitcoin and Tron, beginning with use of Ethereum’s EIP-7702 account-delegation mechanism. Some assets continued moving after freezes; the suspected attacker also deposited USDT into Aave and borrowed ETH, prompting Aave to pause most Ethereum lending markets. Binance said it is investigating, assured customers their assets are safe and has not confirmed the amount potentially compromised.
