🧊 Stablecoins can be frozen. Other coins can't.
Attackers behind the Binance hack raced to convert stolen stablecoins into crypto that issuers can't freeze, per Cointelegraph, while Tether and Circle moved to immobilize billions. Circle alone froze $823M, and about $3B of the stolen funds is frozen in total.
Chainalysis also reports 'never-seen-before' laundering patterns, with thousands of transactions that look automated.
Is the freeze power of $USDT and $USDC a feature or a risk? 👇
#HeYiSaysWithdrawalsExpectedtoResumeWithin42Hours #BinanceSquare #WriteToEarn
Attackers behind the Binance hack raced to convert stolen stablecoins into crypto that issuers can't freeze, per Cointelegraph, while Tether and Circle moved to immobilize billions. Circle alone froze $823M, and about $3B of the stolen funds is frozen in total.
Chainalysis also reports 'never-seen-before' laundering patterns, with thousands of transactions that look automated.
Is the freeze power of $USDT and $USDC a feature or a risk? 👇
#HeYiSaysWithdrawalsExpectedtoResumeWithin42Hours #BinanceSquare #WriteToEarn
