Freeze vs. Theft
Two different things happened today. Don't mix them up.
Liquidation: leveraged longs got closed. The money stayed in the market, just changed hands. ~$1.3B longs wiped .
On-chain outflow: tokens moved from Binance wallets to unknown addresses. If unauthorized, that's theft .
Stablecoins (USDT/USDC) can be frozen by issuers. BTC and ETH cannot . That's why $2.5B+ got locked, but the ETH portion is harder to recover.
Two different things happened today. Don't mix them up.
Liquidation: leveraged longs got closed. The money stayed in the market, just changed hands. ~$1.3B longs wiped .
On-chain outflow: tokens moved from Binance wallets to unknown addresses. If unauthorized, that's theft .
Stablecoins (USDT/USDC) can be frozen by issuers. BTC and ETH cannot . That's why $2.5B+ got locked, but the ETH portion is harder to recover.
