Tether, Circle freeze $2.38 billion after Binance reports security incident

Oct 29 (Reuters) Circle and Tether on Thursday froze over $2.38 billion in stablecoin currency after Binance said ​it was actively investigating a ‌potential security issue. Binance, the world s largest cryptocurrency exchange, said in a post on X its teams were reviewing all relevant information with ‌urgency ​and added that user ⁠funds were safe. Crypto ⁠firm Ripple had frozen roughly $200 million, Binance co-founder Yi He said on X. Binance co-founder Changpeng Zhao, who no longer ​manages the company, wrote on X that the incident looked like a ⁠hack . Tether, which issues the ⁠world s largest stablecoin, said it ​froze nearly $1.57 billion related to the hack, ​with Circle freezing over $800 million. Circle, another ‌stablecoin issuer, is closely tracking reports of a potential exploit involving Binance, its co-founder and CEO Jeremy Allaire ⁠wrote in a post on X, adding that it will continue supporting the investigation. Binance has ⁠over 335 ‌million registered global users, ⁠