Approximately $2.1 billion in stablecoins frozen amid suspected Binance theft

ShenChao TechFlow reported that on Oct. 30, according to Whale Alert, an address holding approximately 823 million USDC (about $824 million) was frozen at 05:13 Beijing time. Whale Alert later added that this address and two previously frozen USDT addresses (holding approximately 313 million and 971 million USDT, respectively) are all related to the rumored Binance theft.

Based on this, stablecoins frozen in connection with the incident currently total approximately $2.1 billion. Additionally, another address holding approximately 65.99 million USDT was frozen at 05:22 Beijing time; Whale Alert has not yet said whether it is related to the incident.

ShenChao previously reported that a large abnormal outflow occurred from Binance's hot wallet early today. Binance said it is investigating a potential security issue, and user funds have not yet been confirmed to be affected. ShenChao will continue to monitor the situation.

Source: ShenChao TechFlow