Paolo Ardoino, CEO of Tether, posted on X:

“Tether froze more than 1.567B USDT related to a potential Binance exchange hack. Protecting the industry and our partners is our main priority. Stay safe everyone.”

— Paolo Ardoino (@paoloardoino)

View the original post on X

Context

Paolo Ardoino, the CEO of Tether, posted on X that the stablecoin issuer has frozen more than 1.567 billion USDT tied to a potential hack of the Binance exchange. He emphasized that protecting the industry and partners is the top priority and urged users to stay safe.

The freeze means that a large amount of USDT will be temporarily unavailable for trading or withdrawal until the investigation is complete. This action reflects Tether’s policy of intervening when there are credible security threats affecting its ecosystem or major partners. It also signals heightened vigilance across the crypto sector after recent high‑profile attacks.

For the broader market, the move could temporarily reduce liquidity for USDT, a key stablecoin used on many platforms. It also underscores the interconnected risk between major exchanges and stablecoin issuers, reminding participants that security incidents can have ripple effects across the industry.

Paolo Ardoino is not affiliated with COINMAG. The quote comes from a public post on X; the context was written by the COINMAG newsroom.