Binance Hack LIVE Updates: CZ Reacts as Tether, Circle Freeze Billions

Arbitrum Freezes $30.5M Linked to Binance Hack, Yi He Says

Binance co-founder Yi He said the Arbitrum Security Council executed a transaction freezing approximately $30.5 million linked to the Binance exploit.

Yi He thanked the council's other signers for their involvement. The action followed earlier asset freezes by Tether and Circle as investigators examined suspicious cryptocurrency transfers.

However, the frozen assets did not necessarily represent recovered funds, and Yi He provided no reimbursement timeline.

Elon Musk Reacts to $5.8B Binance Hack Reports: “Everyday is Zeroday”

Elon Musk weighed in on the suspected Binance hack, writing “Everyday is Zeroday” on X. He quoted The Kobeissi Letter's post detailing approximately $5.8 billion in suspicious outflows across Bitcoin, Ethereum and Tron networks.

The reported transfers included $1.45 billion in Bitcoin and $875 million in Ethereum. Musk's reaction came amid growing scrutiny of the suspected breach, although Binance had not confirmed the total losses.

Binance Suspends Withdrawals Across Multiple Networks

Binance temporarily suspended cryptocurrency withdrawals across multiple blockchain networks following suspicious wallet activity on Oct. 29. Company spokesperson Ross O'Leary confirmed the precautionary restrictions.

Binance maintained that customer funds remained safe while security teams investigated the incident. The exchange had not disclosed its total financial exposure.

Binance Hacker Dumps PEPE, LINK, UNI as $180M in Altcoins Face Selling Pressure

Blockchain analytics firm Lookonchain reported that the suspected Binance hacker began selling PEPE, Uniswap (UNI), Chainlink (LINK), and other tokens for Ethereum (ETH).

The wallet reportedly still held 217.49 million ENA worth $39.51 million, 7.57 trillion PEPE worth $34.41 million, and 2.57 million LINK worth $28.07 million.

Other holdings included $15.9 million in AAVE, $12.62 million in UNI, $11.54 million in ARB, and $8.52 million in ONDO. The 12 listed altcoin positions totaled approximately $180.32 million, raising concerns about further selling pressure.

Binance Hack: Suspected Hacker Wallets Hold $5.8 Billion in Crypto

Arkham Intelligence tracked approximately $5.78 billion across 55 cryptocurrency addresses labeled “binance-hacker-1029” following suspicious Binance wallet transfers.

The holdings reportedly included $1.77 billion in Tether (USDT), $1.44 billion in Bitcoin (BTC), $876 million in Ethereum (ETH), and $823 million in USD Coin (USDC).

However, the $5.8 billion figure represented tracked wallet holdings, not confirmed stolen funds. Binance continued investigating the incident and maintained that customer assets remained safe.

Binance Founder CZ Says User Funds Are Safe Amid Suspected Hack
Binance founder Changpeng Zhao (CZ) said the exchange appeared to have suffered a hack. In an X post, Zhao thanked Tether and Circle for freezing approximately $971 million and $823 million, respectively.

Zhao clarified that he no longer manages Binance but remains a shareholder. He expected the exchange to cover all customer funds. Binance separately said it was investigating the incident and maintained that user assets remained safe.

Binance Hack: Tether and Circle Freeze Billions in Stablecoins

Tether CEO Paolo Ardoino said the company froze over 1.567 billion USDT linked to the suspected Binance exploit. Circle CEO Jeremy Allaire separately reported freezing over 800 million USDC. The actions restricted transfers involving affected addresses, although investigators had not confirmed the exchange's final losses.