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Cointelegraph reported that the Arbitrum Security Council said it executed a transaction to freeze $30.5 million, involving 74.6 million ARB and 8,425 ETH, and that the funds were transferred to an intermediary frozen wallet.
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The update came after the Arbitrum Security Council said it executed a transaction to freeze $30.5 million from the Binance exploit, involving 74.6 million Arbitrum (ARB) and 8,425 Ether (ETH). “The Security Council acted by weighing its commitment to the security and integrity of the Arbitrum community and Arbitrum governance without impacting any Arbitrum users or applications,” it said. “As of October 30, 2026 time, the funds have been successfully transferred to an intermediary frozen wallet,” it said.
Blockchain security firm Blockaid said its team had identified roughly $3.3 billion in suspicious transfers involving Binance-linked wallets across Ethereum, Arbitrum and Avalanche.
Circle CEO Jeremy Allaire said the company had frozen more than $800 million in USDC in coordination with law enforcement and would continue supporting the investigation.
Binance co-founder Changpeng Zhao said the activity appeared to be a hack, adding that Tether and Circle had frozen approximately $971 million and $823 million, respectively. Zhao said he expected all user funds to be fully covered.
Blockchain analytics platform Arkham Intelligence later identified a collection of wallets labeled “binance-hacker-1029” holding approximately $5.84 billion in digital assets. The figure represents the wallets’ reported holdings rather than a confirmed estimate of stolen funds.