Circle Says It Froze $1.1B in USDC Linked to Binance Hack Investigation

Brief

By Dextape Desk · November 8, 2026

Circle, the company behind the USDC stablecoin, reported in a November 5 statement that it had frozen about $1.1 billion of the token linked to the reported Binance breach. The company acted together with law enforcement. According to Circle, the breach was described as totaling over $6 billion of digital assets, and identifying relevant funds is still underway. Circle stressed that a wallet freeze settles neither ownership nor eventual forfeiture. The issuer says it responds to legitimate legal demands and leaves to police and courts whether an offense took place. The article treats the $1.1 billion as an intervention figure, not a total already returned to victims, since investigations and disputes may continue.

Why it matters: It shows how an issuer's freeze power can act quickly after a breach, while ownership and recovery remain separate questions for courts and investigators.

Mentioned: Circle, Binance

Summary by Dextape, based on reporting by NewsBTC. Machine-written from NewsBTC’s report and checked against it · How Dextape writes