Tether Says It Froze More Than $1.5B Linked to the Binance Theft

TL;DR: Tether said on November 2 that it froze more than $1.5 billion in USDT linked to the late-October Binance attack, working with investigators and industry partners. Tether’s announcement gives the company’s account of its involvement; it does not independently establish the ultimate ownership or recoverability of every frozen token. It is tempting to present freezing power as either an unqualified feature or a fatal flaw. The more useful comparison is with the protections and limits users expect from banks and payment providers. In both worlds, legal compliance can restrict access, yet the remedy process and transparency of decisions matter just as much as the initial intervention.

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