Tether has frozen more than $1.567 billion in USDT related to a potential Binance exchange hack, chief executive Paolo Ardoino said on October 29. The issuer’s statement provides direct confirmation of a substantially larger freeze than initially reported.
The figure exceeds the approximately $971 million cited in the earlier report. Ardoino described the amount Tether had frozen, rather than announcing an additional $1.567 billion on top of that estimate. He did not provide an address-by-address breakdown in the post.
Tether froze more than 1.567B USDT related to a potential Binance exchange hack.
— Paolo Ardoino (@paoloardoino) October 29, 2026
Ardoino said protecting the industry and Tether’s partners was its priority. His statement continued to describe the Binance incident as a potential hack. It did not identify an attacker, explain how access may have been obtained or establish the exchange’s total losses.
Binance co-founder Yi He previously said the exchange was urgently investigating reports of a possible security issue and that user funds were safe. She urged users to rely on official updates and avoid unofficial links, messages or requests for account information.
The update follows Changpeng Zhao’s separate account of a Circle freeze involving roughly $823 million in USDC. Frozen balances should not be treated as a final loss tally or proof of reimbursement. CoinScreamer has not independently verified the full frozen balances or the scope of the suspected breach.
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