Circle Freezes Over $800M USDC Tied to Binance Incident

Circle has frozen more than $800 million in USDC tied to an incident at Binance, CEO Jeremy Allaire said, adding that the move was coordinated with law enforcement. Binance said its security team is actively investigating a potential security issue after billions of dollars left its hot wallets. CZ said the episode does look like a hack and credited Tether and Circle with freezing about $971 million.