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About $3 billion in stolen assets was frozen after the Binance hack, but actual recovery of the funds may still require legal procedures, CoinDesk reported. Tether froze more than 1.567 billion USDT, while Circle froze about 823 million USDC, and Ripple and World Liberty Financial also joined the asset freeze effort.
Legal experts said freezing assets only prevents hackers from moving funds further and does not by itself return ownership to victims. They also questioned whether the rapid response seen for a major exchange such as Binance would be applied in the same way to smaller hacking victims. The report added stablecoin issuers can block transfers of specific tokens, while Bitcoin cannot be frozen at the network level.