Tether says it generated $1.5 billion in third-quarter net operating profit, with its reserve buffer widening substantially as excess reserves nearly doubled to $7.95 billion, according to an attestation prepared by independent accounting firm BDO. The update arrives with figures released alongside Tether’s latest quarterly attestation and highlights how the company’s earnings and balance sheet remain closely tied to traditional markets. At the end of September, Tether reported $191.5 billion in assets against $183.5 billion in liabilities, implying a surplus of $7.95 billion. That figure is close to twice the $4.1 billion reported for the earlier June period referenced in Tether’s disclosure, signaling a stronger cushion during the third quarter. Key takeaways Tether reported $1.5 billion in third-quarter operating profit, alongside an increase in excess reserves to $7.95 billion. Assets exceeded liabilities by $7.95 billion at end of September, up from $4.1 billion reported in Ju...

Blockchain analytics firm Bitquery says the individuals behind Binance’s $6.3 billion hack controlled more Bitcoin on Friday than Coinbase reported holding for its own investment and operating reserves at the end of September. The comparison underscores how quickly stolen crypto can be consolidated into large balances—even as exchanges move to freeze some funds. In a report published on its investigations page, Bitquery traced 18,270 BTC—worth about $1.4 billion—across 19 addresses linked to the attacker. That total exceeds Coinbase’s combined Bitcoin holdings for investment and operations as of Sept. 30, which the U.S. exchange disclosed in an SEC filing. Key takeaways Bitquery traced 18,270 BTC to 19 attacker-linked addresses after the Binance hack, totaling roughly $1.4 billion. Coinbase reported 17,954 BTC held for investment plus 117 BTC held for operations as of Sept. 30, for 18,071 BTC combined—about 199 BTC less than the attacker’s total. Binance said about $3 billion of ...

Binance’s estimated $6.3 billion hack—described by investigators as the largest in crypto history—shows how quickly major thefts can migrate from “steal” to “launder,” even as issuers and protocols move to block access. The attack began at 8:04 pm UTC on Thursday, and the suspected North Korean-linked perpetrators moved rapidly into assets they believed could be harder to freeze. By Friday, Binance said it had frozen about $3 billion of the stolen funds onchain. Meanwhile, stablecoin issuers and other gatekeepers launched address blacklists and freeze actions that came within minutes of the initial transfers—yet the remaining portion of the attackers’ holdings still raises a central question for users and regulators: how much of the balance can actually be recovered, not just immobilized? Key takeaways Binance estimates the theft totals roughly $6.3 billion, with about $3 billion frozen onchain as of Friday. Stablecoins led the freeze response: Tether and Circle reportedly moved wi...

The FBI and the US Secret Service have confirmed they are working with Binance after the exchange disclosed a $6.3 billion hack, as investigators and blockchain analytics firms try to trace and recover stolen cryptocurrency. According to Reuters , the FBI said it is coordinating with government and industry partners to assess the incident’s scope, potential impacts, and investigative steps. Separately, a Secret Service spokesperson told Bloomberg that investigators are working “around the clock” with private-sector partners to recover stolen funds. Key takeaways The FBI and Secret Service are actively coordinating on the Binance hack response, focusing on incident scope and recovery efforts. Binance says it has reserved more than $6.34 billion in company funds to cover losses, including $5 billion held in affected cryptocurrencies. Withdrawals remained suspended as of Friday, with plans to restart in stages from Sunday after security checks. Blockchain intelligence firm TRM La...

Binance disclosed it has set aside more than $6.34 billion to cover losses after hackers stole about $6.3 billion from the exchange on Thursday, an incident now described by blockchain tracing firm TRM Labs as the largest cryptocurrency theft on record. Industry partners have reportedly frozen roughly $3 billion in assets linked to the attack, but customers are still waiting for withdrawals to fully reopen. TRM Labs traced the first unauthorized transfers to around 8:05 pm UTC on Thursday, reporting that Binance wallets were drained across multiple blockchains. The attackers focused on hot wallets—accounts kept online for day-to-day withdrawal processing—according to TRM’s analysis. Binance has not publicly confirmed who was behind the hack, though TRM attributed the operation to North Korea’s TraderTraitor group, a name previously tied in the US to the $1.5 billion Bybit theft in February 2025. Key takeaways TRM Labs traced initial unauthorized transfers to about 8:05 pm UTC Thursda...

Ripple has frozen approximately $200 million in RLUSD linked to the October 29 Binance security breach. The action placed Ripple alongside Tether and Circle in efforts to restrict stolen stablecoin holdings. The coordinated response also highlighted RLUSD's freeze controls and growing role in institutional cryptocurrency operations. Ripple Freezes $200M in RLUSD Following Binance Security Breach The Binance security incident triggered emergency action from major stablecoin issuers on October 29, 2026. Unauthorized transfers from Binance-linked hot wallets reportedly caused losses estimated at $6.3 billion. The incident now ranks as the largest cryptocurrency theft on record, surpassing the $1.5 billion Bybit hack in 2025. Binance attributed the breach to a compromised laptop belonging to a DevOps engineer. However, its preliminary investigation found no evidence that attackers accessed private keys. The exchange also committed to covering affected users through its SAFU fund and co...

Tether said it generated $1.5 billion in third-quarter net operating profit, with its reserve buffer strengthening sharply as excess reserves nearly doubled to $7.95 billion. The figures were released alongside the company’s latest attestation prepared by independent accounting firm BDO. For the quarter ended September, Tether reported $191.5 billion in total assets against $183.5 billion in liabilities, leaving a surplus that is close to twice the $4.1 billion buffer reported in June. The company also highlighted its heavy exposure to US Treasury instruments, including $132.4 billion in direct and indirect Treasury bill holdings. Key takeaways Tether’s Q3 operating profit came in at $1.5 billion, according to its BDO-prepared attestation. Excess reserves rose to $7.95 billion, nearly doubling from the $4.1 billion level reported in June. Total assets at end of September were $191.5 billion versus $183.5 billion in liabilities. Tether reported $132.4 billion in direct and indir...