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Tether, Circle and other crypto companies froze billions in assets linked to a Binance hack, according to CoinDesk. Legal experts say blocking tokens may not ensure recovery and question whether smaller victims would receive comparable protection.
Tether said its excess reserves nearly doubled to $7.95 billion by the end of September, while third-quarter operating profit reached $1.5 billion. The stablecoin issuer reported $132.4 billion in Treasury exposure, $8.37 billion in Bitcoin reserves and a USDT user base above 700 million.
Bitcoin fell after Binance suffered a record $6.4 billion hack, but avoided the dramatic plunge seen after a 2018 attack. A larger market, U.S. spot Bitcoin ETFs, institutional ownership and a less panicked backdrop helped limit the immediate reaction.
Two Texas brothers were sentenced to a combined 326 months for holding a Minnesota family at gunpoint and forcing the father to transfer more than $8 million in cryptocurrency during a 2025 home invasion.
Binance is working with the FBI and U.S. Secret Service after a multibillion-dollar hack, while Circle and Tether froze digital assets linked to the attack. Investigators have attributed the theft to TraderTraitor, a North Korean hacking group previously linked to the Bybit breach.
Coinbase shares fell more than 13% as crypto-linked stocks sold off after Binance disclosed a $6.3 billion breach. Circle, Strategy, IREN and Figure also declined, while quarterly results showed profits boosted by cryptocurrency investment gains despite weaker revenue.
Binance estimates the impact of its record crypto hack at $6.3 billion, with $3 billion in assets frozen. The exchange says it has reserved more than $6.34 billion to cover losses, is working with the FBI and aims to restore withdrawals after further security checks.
Binance says a $6.3 billion exploit was broader than initially understood, with hackers bypassing security checks and erasing evidence. The exchange is targeting Sunday to restart withdrawals and plans to publish proof of reserves on Monday, according to CoinDesk.
Binance says it has reserved more than $6.34 billion to cover a record cryptocurrency theft, while CZ pushed back after Elon Musk appeared to mock the exchange. The dispute focused on Binance’s SpaceX shares, valued by CZ at more than $1 billion.
The SEC has charged BG Wealth Sharing and DSJ Exchange with allegedly raising more than $130 million from tens of thousands of investors through a crypto scheme involving false filings, risk-free return promises and fake signs of regulatory approval.
Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say a reported $6.3 billion Binance hack is unlikely to derail the cryptocurrency market’s recovery. They are urging investors to consider crypto stocks despite the security incident, according to CoinDesk.
Blockchain analytics firms have linked Binance’s reported $6.3 billion theft to North Korea-associated TraderTraitor. The incident may be the largest crypto hack on record, prompting asset freezes, a market sell-off and Binance’s pledge to cover losses from company reserves.
The FBI and US Secret Service are helping investigate and trace cryptocurrency stolen in Binance’s $6.3 billion hack. Binance says it has reserved more than $6.34 billion to cover losses, while withdrawals remain suspended pending security checks and a planned staged reopening.
Binance says it has set aside more than $6.34 billion to cover losses from the largest reported crypto hack, including $5 billion in matching tokens. The exchange will include the holdings in its next reserves report, but analysts say independent verification is still outstanding.
TRM Labs and Chainalysis have attributed the approximately $6.4 billion Binance hack to TraderTraitor, a North Korean group previously blamed for the $1.5 billion Bybit theft. Binance says it has reserved more than $6.34 billion to cover losses while investigators trace and freeze funds.
Binance said it reserved about $6.3 billion of its own funds to cover losses from a record cryptocurrency hack, while roughly $3 billion in stolen assets had been frozen, according to CoinDesk.
Bitcoin mining difficulty rose 5.54% to 148.36 trillion as network hashrate recovered by 21%. The stronger network increases security but intensifies competition, while hashprice fell toward $33 per PH/s daily, leaving some older mining machines below break-even.
Binance says it has reserved more than $6.34 billion to cover losses from a hack estimated to have affected about $6.3 billion in crypto. Around $3 billion has been frozen, while withdrawals remain paused during a security review and investigators trace the stolen funds.
