Binance has put out its first verified figure on frozen funds after more than $5.5B in digital assets reportedly moved out of wallets linked to the exchange. Earlier public estimates had cited around $1.8B frozen.

The current verified total frozen stands at $2.54B, and the exchange says the number may still grow as tracing continues.

Stablecoin issuers moved first: Tether froze more than $1.567B in USDT, while Circle reportedly froze more than $800M in USDC. Binance is working with law enforcement, issuers and blockchain intelligence firms to trace the rest. Frozen assets are not yet recovered funds.

If the upper estimate of about $5.6B held by attacker wallets is confirmed, the incident would become the largest crypto hack on record, well above the roughly $1.5B Bybit exploit of February 2025. Binance says user funds are safe, and Binance.US reports it was not affected.