Stablecoin issuer Tether announced it has frozen over 1.567 billion USDT in assets allegedly linked to the cyberattack on the Binance cryptocurrency exchange. Tether CEO Paolo Ardoino announc
Stablecoin issuer Tether announced it has frozen over 1.567 billion USDT in assets allegedly linked to the cyberattack on the Binance cryptocurrency exchange. Tether CEO Paolo Ardoino announced the development via the social media platform X.
According to Ardoino’s statement, the amount of USDT frozen has significantly exceeded the previously confirmed level of 971 million USDT.
Recent data shows an increase of approximately 596 million USDT in the total amount of assets reportedly frozen in connection with the attack.
Binance confirmed the cyberattack on its platform but stated that user funds were safe. The exchange issued a statement to address concerns about the impact of the attack on the security of user assets.
On the other hand, assessments shared in various cryptocurrency communities have suggested that North Korean-linked actors may be behind the attack.
The same assessments estimate that a total of $2.77 billion worth of crypto assets were stolen as a result of the attack.
However, claims that the attack was carried out by North Korea and estimates regarding the total number of casualties have not been independently verified based on the available information.
Tether’s freeze is seen as a step to prevent the movement of USDT assets associated with the attack.
However, this does not mean that the frozen tokens have been directly returned to the victims or that the losses resulting from the attack have been fully compensated.
In the cryptocurrency market, the ability of stablecoin issuers to freeze assets linked to suspicious addresses is among the measures taken in large-scale security incidents.
The results of the investigation into the Binance attack have not yet revealed definitive information regarding the breakdown of the total assets allegedly stolen and the status of the remaining funds.
*This is not investment advice.
Continue Reading: Tether Freezes Over $1.57 Billion in USDT Linked to Binance Attack! Here Are the Details
