Tether has frozen 971 million USDT suspected to be linked to large abnormal outflows from Binance.

According to market reports and on-chain data, Binance’s hot wallets have again outflowed 200 million USDT, which Tether promptly froze. Tether has previously frozen over $1.567 billion in USDT. Earlier today, total assets outflow from Binance-linked wallets reached approximately $5.643 billion, broken down by blockchain networks: Ethereum accounted for ~$3.528 billion, Bitcoin ~$1.449 billion, Tron ~$628 million, and Arbitrum, Optimism, and Base combined for ~$38 million. In response to the incident, Binance co-founder He Yi stated that Binance has noticed reports of potential security issues and is actively investigating. The security team is urgently reviewing all relevant information and will release updates via Binance’s official channels after verification. He Yi also reminded users to beware of scams, warning against trusting unofficial links, messages, or requests for account information, and emphasized user funds security (SAFU).

Binance has issued an official statement noting reports of potential security issues and is currently conducting an active investigation. The exchange’s security team is urgently reviewing all relevant information, and will release updates via official channels once verified. Binance emphasized that user funds remain fully secure, and reminded users to stay vigilant against scams, warning them not to trust unofficial links, messages, or requests for account information.

Tether has frozen more than $1.567 billion worth of USDT, according to a Bloomberg Terminal report. The freeze is reportedly linked to stolen assets from Binance. Binance co-founder He Yi recently posted that the exchange has noticed reports of potential security issues and is actively investigating. The security team is urgently reviewing all relevant information, and will release updates via Binance’s official channels after verification. He Yi also reminded users to beware of scams, advising them not to trust unofficial links, messages or requests for account information, and emphasized user fund safety (SAFU).

According to on-chain data, as of 21:22 UTC on October 29, the total outflow of assets linked to Binance-labeled wallets reached approximately $5.643 billion. Of this, around $3.528 billion was on the Ethereum network, $1.449 billion on Bitcoin, $628 million on Tron, and a combined $38 million across Arbitrum, Optimism, and Base. Additionally, Tether and Circle—issuer of USDC—have frozen at least $2.316 billion in stablecoins, including roughly $1.493 billion in USDT and $823 million in USDC. The figures are sourced from on-chain analytics; the asset outflow amount is not equivalent to actual stolen funds, and the relevant incident remains to be further verified.

Binance founder CZ posted a statement saying user funds are secure, and it appears Binance has indeed suffered a hacker attack. He thanked Tether and Circle for their swift freeze measures, which blocked approximately $971 million in USDT and $823 million in USDC respectively. CZ also noted he is no longer managing Binance’s official website operations, but as a shareholder, he expects all user funds will be fully protected.

Binance co-founder He Yi stated in a post that Binance has noticed reports of potential security issues and is actively investigating. The security team is urgently reviewing all relevant details, and will share the latest updates through Binance’s official channels once verified. He Yi also reminded users to stay vigilant against scams, warning them not to trust unofficial links, messages, or requests for account information, and underscored the importance of user fund security (SAFU).