Binance Hack: Freeze and Loss Totals Differ Across Reports

Crypto Economy and CoinTurk News EN give sharply different dollar figures for the stablecoins frozen and the total value of the Binance outflows following the same incident.

Crypto Economy and CoinTurk News EN give sharply different dollar figures for the stablecoins frozen and the total value of the Binance outflows following the same incident.

What all sources agree on

• Binance experienced a security incident involving large, anomalous outflows from wallets linked to the exchange on October 29, 2026.
• Tether and Circle both froze stablecoins connected to the incident.
• Changpeng Zhao (CZ) publicly stated it 'does look like a hack on Binance' and that he expects user funds to be fully covered.
• Binance's BNB token experienced a price decline in the aftermath of the incident.

Where the reports disagree

1Total value of stablecoins frozen by Tether and Circle

Tether and Circle froze nearly $1.8 billion in stablecoins linked to an alleged security breach at Binance.

Crypto Economy 2026-10-29 22:39

Binance confirmed that, in total, frozen assets reached $2.54 billion, warning that this amount could rise as investigations continue.

CoinTurk News EN 2026-10-30 00:22

What would settle it: A joint or individual statement from Tether and Circle itemizing the total frozen amount, or the on-chain freeze transactions themselves.

2Amount of USDT frozen by Tether

Tether added the primary receiving address to its blacklist, freezing $971 million in USDT.

Crypto Economy 2026-10-29 22:39

Tether's CEO Paolo Ardoino reported that his company had frozen over 1.567 billion USDT linked to the Binance breach

CoinTurk News EN 2026-10-30 00:22

What would settle it: Tether's own blacklist transaction records or an official statement from Paolo Ardoino specifying the frozen amount.

3Amount of USDC frozen by Circle

Circle applied its blocking mechanism to the same entity, withholding $823 million in USDC.

Crypto Economy 2026-10-29 22:39

Circle CEO Jeremy Allaire confirmed that more than $800 million in USDC had also been frozen with law enforcement cooperation.

CoinTurk News EN 2026-10-30 00:22

What would settle it: Circle's own blocklist records or an official statement from Jeremy Allaire specifying the exact frozen amount.

4Total value of outflows from the Binance hack

Independent estimates published by various analytics firms placed total outflows from the hot wallets between $2 billion and $3 billion during the day.

Crypto Economy 2026-10-29 22:39

Blockchain analytics firm Glassnode reported that the initial value of suspicious outflows was approximately $5.3 billion, but subsequent transactions brought the tally closer to $5.9 billion as the investigation continued.

CoinTurk News EN 2026-10-30 00:22

What would settle it: A consolidated on-chain analysis from a named blockchain analytics firm, or an official Binance disclosure of total affected funds.

What to make of it

Treat the occurrence of a Binance security incident and the involvement of Tether and Circle freezes as established; do not treat any specific dollar figure for the amount frozen or the total hack size as settled until Tether, Circle, or Binance issue matching official figures.

Treat the occurrence of a Binance security incident and the involvement of Tether and Circle freezes as established; do not treat any specific dollar figure for the amount frozen or the total hack size as settled until Tether, Circle, or Binance issue matching official figures.

Originally reported by AltcoinGordon, written by Olivia Hayes. Republished with permission.

View the original on AltcoinGordon →

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