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Circle freezes $823M in USDC as Binance probes large wallet outflows amid hack fears

30 Oct 2026, 00:23 WIB
Crypto Briefing
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Bearish
Circle freezes $823M in USDC as Binance probes large wallet outflows amid hack fears

Circle has frozen approximately $823 million in USDC stablecoins following reports of large withdrawals from Binance's hot wallets, which are under investigation for a potential security breach. Binance founder Changpeng Zhao suggested the situation resembles a hack and praised Circle and Tether for quickly freezing over $1.7 billion in stablecoins combined. The freeze prevents movement of the tokens but does not guarantee recovery of the funds. The full extent of the outflows and whether a hack definitively occurred remain unclear, with significant market impacts including $450 million in liquidated long positions.

Tether's USDT maintains a market cap of Rp3.276,61 trillion and a 24-hour trading volume of Rp1.416,46 trillion on Pluang as of Oct 30, 2026 04:41 WIB. Despite the news of $971 million USDT frozen linked to a suspected Binance hack, USDT's price shows a slight increase of 0.17%. Binance Coin (BNB), however, is down 5.97% with a market cap of Rp1.727,84 trillion, reflecting some market reaction to the incident.

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