$3 Billion Frozen After $5.64 Billion in Binance Hot-Wallet Outflows

Binance said about $3 billion tied to abnormal outflows from several hot wallets had been frozen by Oct. 30, after about $5.643 billion moved from wallets labeled as belonging to the exchange.

The frozen amount equals roughly 53% of the tracked outflow. Binance said customer assets remained safe and pledged to cover all losses. The exchange also said it had replenished about 80% of the stolen funds, but did not give a final net-loss figure.

The largest tracked flows were on the Ethereum, Bitcoin (BTC) and Tron networks: $3.528 billion, $1.449 billion and $628 million, respectively. About $38 million more moved across Arbitrum, Optimism and Base.

Tether froze about $1.567 billion in Tether (USDT), while Circle helped freeze about $823 million in USD Coin (USDC). Ripple and WLFI also took part in the response. Binance had paused deposits, withdrawals and some trading services while teams traced assets. It said withdrawals would return in stages within roughly 34 hours.