Ripple freezes $200M RLUSD amid Binance's record $6.3B hack on October 29

The company is actively halting RLUSD assets in response to a potential security breach on Binance, the most significant cryptocurrency security event ever documented, according to a confirmation provided by Ripple's Senior Vice President of Stablecoins, Jack McDonald, on October 29.

This action serves to establish RLUSD as a regulated stablecoin designed to react instantaneously during moments when institutional protective measures are critically important.

This development underscores the increasing regulatory scrutiny and operational risk management being applied to digital assets following major platform compromises.

Earlier coverage

• Coinbase denies systems breach, cites Amplitude contact-data incident affecting users Oct 28
• Ark Invest adds 35,403 Circle shares in $2.9 million ARKW buy Oct 28
• Coinbase's One-Time MiCA Stablecoin Conversion Runs Friday for EEA Users Oct 27