Tether freezes over $1.567 billion in USDT tied to suspected Binance hack

Tether and Circle moved within about an hour to lock up stablecoins after roughly $3.3 billion flowed out of Binance hot wallets on Ethereum Tether has frozen more than 1.567 billion USDT connected to what on-chain analysts are flagging as a possible exploit of Binance. The freeze followed roughly $3.3 billion in outflows from two Binance hot wallets on Ethereum on October 29, 2026. The outflows happened fast. The large transfers occurred between 20:24 and 21:04 UTC, a window of about 40 minutes. Etherscan and a number of on-chain analysts flagged the receiving addresses.