Circle has frozen more than $800 million in USDC associated with a potential Binance exploit, chief executive Jeremy Allaire said on October 29. He said the company acted in coordination with law enforcement and would continue supporting the investigation.
The statement directly confirms the issuer’s intervention after Binance founder Changpeng Zhao cited roughly $823 million frozen by Circle. Allaire did not provide that exact figure or an address-by-address breakdown. His announcement describes the same incident, rather than a separate freeze to add to Zhao’s estimate.
In coordination with law enforcement, we have frozen more than 800M USDC associated with the incident
— Jeremy Allaire (@jerallaire) October 29, 2026
Separately, Tether chief executive Paolo Ardoino confirmed a USDT freeze exceeding $1.567 billion, above the earlier $971 million report. Binance’s latest statement says it is investigating a potential security issue and that user funds are completely safe.
Zhao likewise said user funds were safe, while stressing that he no longer manages Binance. Speaking as a shareholder, he said he expected all user funds to be fully covered. His post did not establish a final loss assessment, completed reimbursements or a payment timetable.
The updates follow the Binance wallet alert. Freezing tokens restricts their movement; it does not itself demonstrate that assets have been returned to the exchange or its customers. CoinScreamer has not independently reconciled the frozen balances or established the full scope and technical cause of the suspected breach.
Disclaimer: CoinScreamer is an independent media brand owned and operated by NuvexMedia LLC, publishing news, research, and market insights on digital assets and related technologies. NuvexMedia LLC invests in and collaborates with companies across the digital asset, blockchain, and technology sectors. These relationships do not influence CoinScreamer’s editorial coverage, and the publication maintains full editorial independence to provide accurate, timely, and objective information. © 2025 NuvexMedia LLC. All rights reserved. This content is for informational purposes only and should not be considered legal, tax, investment, financial, or other professional advice.
