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Binance suffered an attack affecting an estimated $6.3 billion; deposits and withdrawals were suspended during security checks. Binance said it would cover all losses, and Tether, Circle, Ripple, and World Liberty Financial helped freeze about $3 billion on-chain.
Adam Curry says reports of a Binance-related hack put losses between $3 billion and $6 billion, after which Tether and Circle froze assets on their networks. He treats the freezes as evidence that centralized stablecoin systems can intervene in transactions, unlike Bitcoin.
Redbord credits Circle and Tether with freezing about 40% of the stolen funds, or $2.4 billion, within roughly an hour. He called the recovery larger than any previous hack recovery, comparing it with the $70 million case in The Biggest Heist Ever and the $4.2 billion recovered in the Bitfinex case.
Matthew Mežinskis says stablecoins remain small beside the wider money system: Tether and USDC total about $250 billion, while global broad money is roughly $150 trillion and Bitcoin’s cited monetary base is $26 trillion.
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