CNBC · 2026-10-30 01:54 UTC

Billions in crypto frozen in Binance hack. Here's what happens next

Binance reported approximately $3 billion in cryptocurrency assets frozen following a suspected security breach, with some estimates putting total stolen funds at $5.91 billion. Circle and Tether froze around $2.4 billion in stablecoins (USDT and USDC), while an estimated $2.4 billion in bitcoin and ether remain under attacker control. Recovering frozen stablecoins could take months or years and requires coordination among law enforcement, exchanges, and token issuers, while bitcoin and ether lack an issuer to directly freeze assets.

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