Tether has frozen about $1.567 billion in USDT linked to the Binance hack, in what stands as the largest single freeze connected to the incident.

The action targets USDT, a stablecoin whose issuer can block addresses holding its tokens, and it removes a large sum from wallets tied to the theft.

Elliptic, a blockchain analytics firm, estimates total frozen funds at about $2.84 billion, while Binance puts the frozen total at about $3 billion.

Before the freezes took effect, the attacker converted about $786 million in stablecoins into ETH and TRX, assets that sit outside the freeze powers of a centralised token issuer.

Per LlamaRisk, about $59.9 million in stolen USDT was deposited as collateral on Aave, with about $43.8 million worth of ETH borrowed against it, showing how some funds moved through decentralised lending before controls applied.

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

The overall hack is estimated at about $6.3 billion, and the contrast between frozen and unfrozen holdings underlines a central point: USDT and USDC can be frozen by their issuers, while ETH and Bitcoin have no central issuer with that same power, so centralised controls reach only part of a decentralised ecosystem.