2 Reasons Custodia CEO Thinks the $6B Binance Hack Changes Crypto

The FBI said a North Korean state hacking unit it calls TraderTraitor stole more than $6 billion in virtual assets from Binance on or about October 29, 2026, the largest crypto theft ever, and asked crypto firms to block linked money. Nearly half has been frozen, mostly by Tether and Circle, issuers of dollar-pegged stablecoins USDT and USDC; Tether locked 1.18 billion USDT 37 minutes after the stolen coins arrived, and Circle froze 823 million USDC three minutes later. Custodia Bank CEO Caitlin Long said the attack carries geopolitical stakes and that regulators may require freeze compliance inside stablecoins' smart contracts. Binance said it covered 95% of stolen tokens and planned to reopen withdrawals for 15 currencies on November 1.