Timeline
- 8.5
Ripple freezes about $200 million in RLUSD as hackers shift to DEXes
According to Decrypt, Binance co-CEO Yi He said Ripple has frozen approximately $200 million of RLUSD. Suspected attackers are using Uniswap and Aave to swap freezable stablecoins into ETH, and Kamino has paused borrowing in its SOL/BTC markets. The freeze shows an issuer using its blacklist capability at scale against suspected exploit proceeds, while the attackers' move into ETH via DEXes and lending markets illustrates how freezable stablecoins are being converted into assets issuers cannot freeze. Kamino's halt shows the response extending into Solana lending markets. The figure comes from Binance co-CEO Yi He as cited by Decrypt, and full loss attribution remains emerging. Kamino's pause applies to borrowing in its SOL/BTC markets.
- 9.5
Binance investigating hack as suspicious outflows reach up to $5.8 billion
Binance said it is investigating a security incident after wallets linked to the exchange were drained of at least $5.5 billion on Thursday, with on-chain tallies cited by The Block putting suspicious outflows at up to $5.8 billion across Ethereum, Bitcoin and Tron. Binance has not confirmed that user funds were affected, though security researchers widely describe the incident as a hack that would be the largest in the industry's history. The affected venue is the largest centralized exchange by trading volume, so unresolved questions about the scale of losses and whether customer balances are impaired bear directly on how traders price counterparty and custody risk across the market. Bloomberg reported that the suspected hack triggered emergency asset freezes and sent digital asset prices tumbling. Tether blacklisted 975.1 million USDT and Circle blacklisted 823 million USDC in the main receiving wallet, and Binance co-CEO Yi He said Ripple also froze about $200 million in RLUSD. The attacker routed funds through Uniswap contracts and borrowed ETH on Aave against USDT collateral — roughly 253,000 ETH (about $570 million) sat in two wallets with no outgoing transfers as of 22:07 UTC — while Aave froze its V3 markets on Ethereum mainnet and Solana-based Kamino paused borrow markets as a precaution.