Tether Says It Froze More Than $1.5B Linked to the Binance Theft

TL;DR: Tether said on November 2 that it froze more than $1.5 billion in USDT linked to the late-October Binance attack, working with investigators and industry partners. Tether’s announcement gives the company’s account of its involvement; it does not independently establish the ultimate ownership or recoverability of every frozen token. It is tempting to present freezing power as either an unqualified feature or a fatal flaw. The more useful comparison is with the protections and limits users expect from banks and payment providers.