Tether says it has frozen more than 1.567 billion USDT
Tether CEO Paolo Ardoino posted on his X account on October 29, 2026, that Tether has frozen more than 1.567 billion USDT, and that these funds are related to a potential Binance exchange security incident. He said that protecting the industry and partners is the top priority.
Binance co-founder Yi He subsequently quoted the post and thanked Tether for its rapid freezing action. Previously disclosed information showed that Tether and Circle had respectively taken freezing measures against the related USDT and USDC, with the cumulative scale exceeding $2 billion.
Original source:
Title: Tether froze more than 1.567B USDT related to a potential Binance exchange hack... Publisher: Paolo Ardoino (@paoloardoino) Date: 2026-10-29 URL: https://x.com/paoloardoino/status/2115918000373346709 Nature of source: Original post by a stablecoin issuer executive Verification status: Full text of the post and Yi He’s quoted reply were actually read in this report (2026-10-29) Supporting content: Core statement that Tether froze more than 1.567 billion USDT and linked it to a potential Binance security incident
ABAB AI Insight
Tether can restrict transfers from specific addresses through the blacklist function in its USDT contracts. The frozen amount in this incident expanded from the earlier reported approximately 971 million to more than 1.567 billion, showing that the issuer continued to update the scope of restrictions during the incident. After the freeze, the related USDT can no longer be transferred further, but the final disposition of the funds still depends on the investigation and legal procedures.
Binance had previously confirmed that it was investigating a potential security issue and said user funds were safe. CZ and Yi He both publicly thanked the stablecoin issuer for its freezing assistance. Freezeable stablecoins have become the main asset class that can be rapidly restricted in such incidents.
The observed indicators are the public list of frozen addresses, the scale of remaining unfrozen assets, and Binance’s follow-up explanation of the overall incident loss and user protection measures.
ABAB News · Cognition Law
Stablecoin issuers can expand the freezing scope in stages during security incidents, and the freezing figures are subject to the issuer’s latest public statement.
The restriction capability of freezeable stablecoins depends on the issuer’s response speed, rather than on whether the on-chain transaction itself has already been completed.