Binance: $2.8B Outflow Triggers Tether Freeze
The Kobeissi Letter reports Tether froze $971 million in USDT tied to a suspected Binance hack after wallets recorded a $2.8 billion outflow across five blockchains.
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Binance faces scrutiny after wallets recorded a $2.8 billion outflow across five blockchains, prompting Tether to freeze $971 million worth of USDT linked to the suspected hack, according to The Kobeissi Letter. The exchange has yet to issue a formal comment on the incident. Binance serves over 320 million users globally and has faced prior large-scale security incidents in recent years.
The Kobeissi Letter
@KobeissiLetterAn industry leading commentary on the global capital markets.