# Binance Investigates Security Reports as Tether and Circle Freeze Funds

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/44018
Published: 2026-10-29T23:24:30.000Z
Updated: 2026-10-29T23:24:30.000Z
Section: Technology

> A transaction moved 167,464.25 ETH and 1.615 billion USDT from a wallet labeled “Binance 14”; Binance has not confirmed a loss or any effect on user funds.

Binance is investigating reports of a potential security issue after Tether and Circle announced freezes of tokens they linked to a possible exploit; Binance has not confirmed any effect on user funds.

At 4:24 p.m. ET (20:24 UTC) Oct. 29, 167,464.25 Ether (ETH) and 1,615,409,498.97 Tether (USDT), among other tokens, moved from a wallet labeled “Binance 14” to another address. The label does not establish who authorized the transaction.

Binance said at 5:16 p.m. ET (21:16 UTC) that it was investigating reports of a “potential security issue.” The exchange said, “At this stage, we have not confirmed any impact to user funds.” It has not confirmed whether the transfers were unauthorized or reported a loss total.

Tether CEO Paolo Ardoino said at 5:25 p.m. ET (21:25 UTC) that Tether had frozen more than 1.567 billion USDT linked to a potential Binance exploit. Circle CEO Jeremy Allaire said at 5:18 p.m. ET (21:18 UTC) that Circle froze more than 800 million USD Coin (USDC) in coordination with law enforcement.

Tether and Circle can block specific addresses from transferring their stablecoins, but a freeze does not reverse a completed transaction.