Ripple Freezes $200M RLUSD as Binance Faces Record $6.3B Hack

HIGHLIGHTS Ripple froze about $200M in RLUSD linked to a potential exploit on Binance, which estimates total losses near $6.3B. Tether froze roughly $1.57B in USDT and Circle locked over $800M in USDC in coordinated issuer action. Binance says user funds remain SAFU, withdrawals should resume within 48 hours, and no private keys were compromised. Ripple's Senior Vice President of Stablecoins, Jack McDonald, confirmed on October 29 that the company is actively freezing RLUSD holdings linked to a potential exploit on Binance, the largest crypto security incident on record.