The response to the suspected Binance breach has reached the chain level: the Arbitrum Security Council executed an emergency transaction to freeze about $30.5M held in an exploiter address on Arbitrum.

The move adds to stablecoin freezes already in place. Binance said the verified total frozen stood at $2.54B, with Tether locking more than $1.5B in USDT, Circle more than $800M in USDC and Ripple helping halt about $200M.

Nearly $6B in assets has been linked to 55 wallets tied to the incident, so frozen funds cover only part of the exposure.

Binance has not explicitly confirmed an exploit, suspended Binance Alpha trading and says user funds are safe. Changpeng Zhao said he expects customer funds to be fully covered.