Tether freezes $1.5B in USDT after Binance hack
BROBROK News · Based on reporting by CryptoSlate ·
Tether said it froze more than $1.5 billion in stolen USDT within about 30 minutes of the Binance hack. Blockchain investigators still estimate that roughly $729 million moved before the freeze and was partly swapped into other assets.
Key points
- Tether says it blocked more than $1.5 billion in stolen USDT quickly.
- The FBI linked the theft to TraderTraitor, a North Korea-related group.
- Bitquery estimates about $729 million escaped before the freeze.
- Some of the funds were converted into ETH and TRX through decentralized venues.
- Tether says it has frozen over $7 billion in USDT in past cases and worked with law enforcement.
Why it matters
The case shows how issuer-controlled stablecoins can slow or interrupt the movement of stolen funds. It also highlights the limits of that power once assets have already been swapped or deposited into DeFi protocols.
Original headline: “Tether freezes $1.5 billion in 30 minutes after Binance hack, but $729 million escapes”
Read the original on CryptoSlate
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.