Binance Faces $2.5B Hack Crisis as Stablecoins Worth Nearly $1B Are Frozen
A suspected hack involving $2.5 billion in assets has sent shockwaves through the crypto market, with major stablecoin issuers taking action.
A suspected hack involving $2.5 billion in assets has sent shockwaves through the crypto market, with major stablecoin issuers taking action. Ethereum (ETH) is trading at ₹2,11,244 ($2,216.80), down 1.4% since this brief published. This is an original Token Times brief based on reporting by Bitcoin Sistemi, with live market data added, as of Fri, 30 Oct 2026 01:00:01 UTC.
This incident highlights the vulnerability of major exchanges and the critical role of stablecoin issuers in crisis response. The freezing of nearly $1 billion in assets could have significant implications for market stability and user trust.
- Binance suspected of losing $2.53B in assets across 60 Ethereum-based tokens
- Tether and Circle have frozen $971M in stablecoins linked to the incident
- Market reacts with fear as total crypto market cap drops to $2.68T
- Bitcoin down 4.20% in 24 hours amid broader market decline
- Binance Records Highest October USDT Outflow at Nearly $50 Million
- Binance Faces $2.5B Hack Crisis as Stablecoins Worth Nearly $1B Are Frozen — this brief
- Major Stablecoin Issuers Freeze $2.6B Linked to Binance Hack
- Binance Faces $5.8B Hack Aftermath as Crypto Market Drops 3.3%
A major security incident at Binance has come to light, with reports indicating that the exchange may have lost $2.53 billion in assets across 60 different 
Ethereum-based tokens. This development, based on on-chain data, has raised significant concerns across the crypto ecosystem.
The incident, which reportedly began on the afternoon of Thursday, October 29, involved massive outflows from Binance hot wallets, triggering alarms about a potential hack. Despite the alarming situation, Binance has yet to issue an official statement, though spokespersons have assured that user balances remain unaffected.
The response from stablecoin issuers has been swift. 
Tether and Circle have frozen approximately $971 million in assets linked to the incident, according to multiple outlets. This action underscores the critical role these companies play in maintaining market stability during such crises.
The broader market has reacted negatively, with the total crypto market cap dropping to $2.68 trillion. 
Bitcoin, the largest cryptocurrency by market cap, is down 4.20% in the past 24 hours, trading at $34,050. The Fear & Greed Index has fallen to 30, indicating a state of fear among investors.
The Ethereum network, which is directly involved in the incident, has seen its native token, ETH, drop 4.62% in the last day, currently trading at $2,247.53. The circulating supply of USDT, the most widely used stablecoin, remains at $179.83 billion, according to DeFiLlama.
Since this brief published about 4 hours ago, Ethereum (ETH) has moved from ₹2,14,171.89$2,247.53 to ₹2,11,243.56$2,216.80 — -1.37%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₹233,318.2 (about $2,216.80), down 5.8% over 24 hours. The rupee itself trades about 10.4% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 30, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Binance Faces $2.5B Hack Crisis as Stablecoins Worth Nearly — questions & answers
What is the estimated value of assets affected by the Binance hack?
Reports estimate the value of affected assets at $2.53 billion across 60 Ethereum-based tokens.
How much have Tether and Circle frozen in response to the incident?
Tether and Circle have frozen approximately $971 million in assets linked to the Binance hack.
What is the current state of the crypto market amid the Binance incident?
The total crypto market cap has dropped to $2.68 trillion, with Bitcoin down 4.20% in 24 hours.
How much is 1 Ethereum worth in rupee today?
About ₹233,318.2 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $2,216.80. The rupee price moves with both ETH's US-dollar price and the USDT/INR rate; use our Ethereum in rupee page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is down 1.37% since this brief first published — trading at ₹2,11,244 ($2,216.80) now versus ₹2,14,172 ($2,247.53) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Bitcoin Sistemi. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.