Tether froze approximately $971 million in USDT linked to a suspected Binance security incident, Tree News reported on October 29. The report adds a potential containment measure to earlier alerts about large movements from Binance-labelled wallets.
TETHER FREEZES $971M USDT IN LIKELY BINANCE HACK
— Tree News (@TreeNewsFeed) October 29, 2026
The initial concern came from onchain observer Spreek, who described the possible hack as unconfirmed. In a later update, he said connected wallets had begun selling USDT and argued that this made malicious activity more likely. That remains his assessment.
CoinScreamer’s earlier market report covered the wallet alert alongside Bitcoin’s fall below $78,500 and Ether’s drop under $2,250. It recorded substantial transfers from a Binance-labelled Ethereum address, while distinguishing visible asset movements from proof that they were unauthorized.
Tether’s terms allow the issuer to freeze tokens when required by law or when it considers that prudent. Immobilizing tokens is different from returning them to an exchange or its customers. A reported freeze amount should not be treated as a verified total loss.
No response to the incident was visible among Binance’s latest main-account posts reviewed for this brief. CoinScreamer has not independently verified Tree News’ $971 million aggregate or established who controls the receiving wallets. The suspected breach, its scope and any effect on customer balances remain unconfirmed.
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