Stablecoin issuers freeze funds amid Binance security investigation

Business · First reported 29 Oct, 21:36 · Updated 23:19

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Binance said it was investigating a potential security issue and that user funds were safe. Tether and Circle reported freezing more than $2.38 billion combined; Binance co-founder Yi He said Ripple had also frozen roughly $200 million.

Binance said it was urgently reviewing reports of a potential security issue and that user funds were safe.
Tether said it froze nearly $1.57 billion and Circle said it froze more than $800 million in assets associated with the incident.
Binance co-founder Yi He said Ripple had frozen roughly $200 million; Binance.US said it was not affected.

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Key facts

Tether freeze: Nearly $1.57 billion, according to Tether.
Circle freeze: More than $800 million, according to Circle.
Ripple freeze: Roughly $200 million, according to Binance co-founder Yi He.
Binance’s reported response: It said it was investigating a potential security issue and that user funds were safe.
Binance.US: The separate exchange said it was not affected.