defi ·
Binance hackers move billions, avoiding freezing by Tether, Circle
Industry participants, including Tether and Circle, initiated actions to immobilize billions of dollars in assets, prompting malicious actors to quickly convert misappropriated stablecoins into…
Industry participants, including Tether and Circle, initiated actions to immobilize billions of dollars in assets, prompting malicious actors to quickly convert misappropriated stablecoins into forms of cryptocurrency that the issuers were unable to freeze.
The swift movement by the hackers was a direct response to the efforts undertaken by major entities within the sector to secure their holdings.
This incident highlights the ongoing tension between the decentralized nature of certain digital assets and the custodial controls exerted by established market participants.
