Binance-linked wallets see $5.57 billion outflow, Tether and Circle freeze $1.8 billion after suspected exploit

At least $5.57 billion in cryptocurrencies rapidly exited wallets linked to Binance on Thursday, with the exchange confirming it is investigating reports of a potential security incident affecting three major blockchains: Ethereum , Bitcoin , and Tron. On-chain data shows $3.51 billion left the Ethereum network, $1.44 billion in 18,270 Bitcoin, and another $630 million on Tron. The movement reportedly began with a large Ethereum transaction of 167,464 ETH and 63 notable token transfers—amounting to $1.615 billion USDT—sent to a new address at 20:24 UTC, as tracked by Etherscan. Binance, recognized as the world’s largest cryptocurrency exchange by trading volume and user count, confirmed its security teams are investigating. The exchange has yet to confirm any direct impact on client funds or provide full details on the incident’s nature.

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