A second major freeze in the Binance case came from Circle, which blocked about $823 million in USDC, making it the second-largest freeze of the response.

The action reinforces how issuer-backed stablecoins differ from decentralised assets: a known issuer can intervene, and here it intervened on a very large scale.

Intervention still came after value had escaped issuer control, as about $786 million in stablecoins was converted into ETH and TRX beforehand.

Elliptic estimates about $2.84 billion in total frozen funds, while Binance reports about $3 billion frozen, figures that sit alongside an overall hack estimate of about $6.3 billion.

On the lending side, LlamaRisk reports about $59.9 million in stolen USDT deposited as collateral on Aave, with about $43.8 million worth of ETH borrowed against it.

Elliptic estimates the attacker still controls about $3.33 billion in assets that cannot be frozen by a centralised token issuer, a holding that surpasses the frozen total.

The pattern is consistent across both freezes: USDT and USDC can be frozen by their issuers, ETH and Bitcoin have no central issuer with that same power, so the freezes were significant but did not solve the problem, and the unfrozen billions remain the defining feature of this hack.