TRM Labs says 40% of Binance hack funds frozen; further recovery hinges on tracing and legal action

Some 40% of the funds stolen in the Binance hack were frozen within about an hour, while recovery of the remaining assets depends on continued tracking and coordination between exchanges and law enforcement. In an October 30 interview with Bankless, Ari Redbord of TRM Labs said Tether and Circle had frozen about $2.4 billion of what he described as a $6 billion theft. He argued that the speed of the response was a central finding alongside the scale of the losses.