Circle freezes more than $800 million in USDC after $6.3 billion Binance breach

Stablecoin issuers immobilized over $2.5 billion combined as Circle shares slid and Bitcoin dropped toward $78,000 Circle froze more than $800 million in USDC after Binance suffered a security breach of approximately $6.3 billion on October 29, 2026. Circle’s own shareholders then took a hit, with the stock falling 5.6%. The incident is being described as the largest security breach in crypto exchange history. Binance reported that roughly $6.3 billion was affected by unauthorized withdrawals from its hot wallets. Hot wallets are the internet-connected accounts exchanges keep funded so customers can withdraw quickly.