NEUTRAL 55 Unchained 50M ago · 4 min read 1 read

If Crypto Can Be Frozen, Is It Yours?

AI summary

Hackers stole $6.43 billion from Binance on Oct. 29, per blockchain analytics firm Elliptic. Within roughly an hour, Tether and Circle froze most of the stolen USDT and USDC, and an Arbitrum council moved the hackers' ether that evening. The episode matters to traders because it shows stablecoin issuers and network councils can freeze or move funds, raising questions about how decentralized crypto really is.

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