Binance investigates security reports as Tether says it froze over 1.567B USDT

Binance said on October 29 that it was investigating reports of a potential security issue. The announcement followed alerts about large wallet transfers and a statement from Tether CEO Paolo Ardoino that the company had frozen more than 1.567 billion USDT. The exchange assured customers that their funds were “completely safe.” Binance issues a customer warning In its statement on X, Binance said its security teams were urgently reviewing the available information. It promised further updates through official channels once details had been verified. Binance’s statement didn't give a loss estimate or explanation of how the suspected incident occurred. Tether reports a large freeze Ardoino said Tether froze more than 1.567 billion USDT related to a potential Binance exchange hack. USDT is Tether’s dollar-linked stablecoin.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.