Tether and Circle Freeze $2.38 Billion Amid Binance Security Incident
Tether and Circle froze $2.38 billion following a reported security incident at Binance, according to the Macon Telegraph.
Macon, GA, October 29, 2026 —
Tether and Circle, two prominent stablecoin issuers, have frozen a combined total of $2.38 billion. This action was taken in response to a reported security incident at the cryptocurrency exchange Binance. The details of the security incident were reported by the Macon Telegraph.
The frozen funds consist of assets held by Tether, the issuer of USDT, and Circle, the issuer of USDC. The specific breakdown of the frozen amounts between Tether and Circle was not provided in the source report. The decision to freeze these assets is a measure taken to mitigate potential losses or unauthorized use following the reported breach at Binance.
The Macon Telegraph reported on the freezing of these significant funds, highlighting the interconnectedness of major players within the cryptocurrency ecosystem and the potential impact of security vulnerabilities. Further details regarding the nature of the security incident at Binance, including when it occurred and the extent of its impact beyond these frozen assets, were not specified in the provided information. The individuals or entities whose funds were frozen were also not identified in the report.
This development underscores the ongoing security challenges faced by digital asset platforms and the rapid measures implemented by stablecoin issuers to protect their reserves and maintain the integrity of their operations. The total amount frozen, $2.38 billion, represents a substantial sum within the digital currency market. The specific cryptocurrency denominations of the frozen assets were not detailed.
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