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Binance Hack: Tether and Circle Freeze $2.1B in 46 Minutes

Hackers drained over $2B from Binance hot wallets on Oct 29. Within 46 minutes Tether and Circle froze $2.1B in USDT and USDC on the attackers' addresses. Full on-chain timeline.

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On October 29, 2026, starting at about 20:22 UTC, attackers drained more than $2 billion from Binance hot wallets to fresh addresses on Ethereum and TRON. Media reports put the total at $2–2.8 billion across several chains.

What we can confirm from on-chain data: within 46 minutes, Tether and Circle froze $2.1 billion in USDT and USDC on the two attacker addresses that received the funds directly from Binance. Our ban-wave detector published the first alert 13 seconds after the first freeze executed.

Timeline (UTC, October 29)

TimeEvent
20:22:45TG5iBMQPrDzJJAUM8GMVBf1hRaJ1wvzsGi (TRON) starts receiving USDT from a Binance hot wallet — $613M in total
20:24:230x5227f603c1ee34ce3c06efe6477003bdfccb2f8c (Ethereum) starts receiving USDT from Binance 14 — $1.62B, plus $56M from Binance 16
20:41:23The same Ethereum address receives $823M USDC
21:01:35Tether freezes 971.1M USDT on 0x5227…2f8c
21:01:48Our ban-wave alert goes out — 13 seconds later
21:04:59Circle freezes 823M USDC on the same address
21:09:12Tether freezes 312.7M USDT on TG5i…zsGi (TRON)

What was frozen

AddressNetworkTokenFrozen
0x5227…2f8cEthereumUSDT$971.1M
0x5227…2f8cEthereumUSDC$823.0M
TG5i…zsGiTRONUSDT$312.7M
Total$2.107B

Not everything was caught. The Ethereum address had received about $1.68B in USDT but held $971M when the freeze landed; the TRON address received $613M and held $312.7M. The rest had already been moved on — a reminder that freezes are fast, but not instant.

The same 20 minutes: more freezes

Between 21:12 and 21:21 UTC, Tether froze three more addresses holding $271M:

  • 0xaa246bf639586a6ba46762d378ce50ca4fc654a0 — 175.0M USDT

  • 0xb171ca86f82070282138352ff7111b494060c8c3 — 30.0M USDT, reached through two quick hops of exactly 30M

  • TCzBTkqn66yApqbYoPezaEQosM5DAd7Y62 — 66.0M USDT, moved there from an address frozen minutes earlier

    • We have not established a direct on-chain link between these three and Binance, so they are listed separately. Altogether, $2.38B in stablecoins was frozen in 20 minutes.

    What this means

  • Stablecoin issuers react in minutes, not days. Tether's first freeze landed 39 minutes after the hack began; Circle followed three minutes later.

  • If you received funds from these addresses, they may be blacklisted. USDT or USDC on a frozen address cannot be moved.

  • Check before you accept. Every address in this post can be checked in @USDTBanBot or on usdtbanlist.com — in Telegram you can even do it inline: type @USDTBanBot and paste the address in any chat.

    • We will update this post as the picture becomes clearer.

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