Tether froze over 1.567 billion USDT and Circle over 800 million USDC tied to the Binance hack, as Ripple, World Liberty and USDT0 also froze stolen funds.
Key Facts
Tether CEO Paolo Ardoino said Tether froze more than 1.567 billion USDT related to the Binance hack, and Circle CEO Jeremy Allaire said Circle froze more than 800 million USDC in coordination with law enforcement.
Binance co-CEO Yi He thanked Ripple and World Liberty Financial for freezing funds and said Arbitrum's Security Council froze about $30.5 million, while USDT0 said it froze 6.18 million USDT0 drained on Polygon.
Binance said around $3 billion of stolen assets had been frozen with help from industry partners as of Friday.
Tether, Circle, Ripple, World Liberty Financial and several blockchain teams have frozen or recovered funds tied to the Binance hack, according to statements from the companies and Binance, which said around $3 billion had been frozen "with thanks to our industry partners."
Once Tether froze the bulk of the stolen USDT (USDT), "the chance of the attacker using USDT became minuscule," USDT0's zerolore later said.
"Tether froze more than 1.567B USDT related to a potential Binance exchange hack," Tether CEO Paolo Ardoino said on X on Thursday.
Which Firms Froze Binance Hack Funds
Circle froze more than 800 million USDC associated with the incident "in coordination with law enforcement," CEO Jeremy Allaire said on X on Thursday, adding that the company will continue supporting the investigation.
Binance co-CEO Yi He thanked Ripple for "promptly freezing approximately 200 million." She also thanked World Liberty Financial for freezing $27 million of the USD1 stablecoin and 48 million WLFI tokens, worth about $2 million.
Arbitrum's Security Council executed a transaction to freeze about $30.5 million from the exploit, Yi He said. She later thanked the Tron team for its support.
Binance said the verified frozen total was $2.54 billion late on Thursday and around $3 billion by Friday, and that it was working with partners and law enforcement to recover the frozen assets. In the third quarter, crypto hacks reached $1.18 billion.
USDT0 and Synthetix Act on Stolen Tokens
USDT0 (USDT0) froze 6.18 million tokens drained on Polygon before the attacker could swap them, zerolore, a member of the USDT0 team, said in an X post describing the measures taken at USDT0. The team's multisig signers mobilized to make the freeze, and it had earlier temporarily paused its Tron-Ethereum pathways.
"Attackers move fast, across networks and protocols, and our response needs to be just as coordinated," zerolore said.
Synthetix (SNX) said its protocolDAO had recovered the SNX stolen from Binance and will return it on request.
Gate founder Dr. Han urged the industry to form a security alliance with unified standards and emergency response systems. Earlier this month, Tether blacklisted four THORChain vaults on Tron.
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