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Bitcoin, cryptocurrency prices fall after Binance reports security issue
- On Friday, Bitcoin fell below $78,000 as concerns over a potential security breach at Binance rattled digital asset markets, with the cryptocurrency dropping over 4% to break below the psychologically important $80,000 threshold.
- Binance has not explicitly confirmed a hack, stating teams are actively investigating reports of a potential security issue; CEO Changpeng Zhao sought to reassure investors that customer funds remain secure.
- To contain the suspected breach, several firms froze a combined $2.54 billion on Thursday, with Circle CEO Jeremy Allaire halting more than $800 million in USD Coin and Tether CEO Paolo Ardoino freezing more than $1.5 billion in USDT.
- As Ether dropped 4.84% and Binance's BNB tumbled 7.68% on Friday, Hyperliquid's HYPE token surged 9.7%, defying the broader market sell-off amid ongoing uncertainty.
- Arkham Intelligence identified nearly $6 billion in assets across 55 wallet addresses potentially linked to the incident, renewing concerns over industry vulnerabilities following major breaches including a roughly $1.5 billion Bybit hack and over $350 million in Bitget losses.
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123 Articles
123 Articles
Binance suspended deposits and withdrawals following an alleged hack that led to the freezing of more than $2.5 billion.
·Mexico
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The platform temporarily suspended all deposits and withdrawals and promised to cover all losses, while Chainalysis estimates the amount stolen at approximately $5.9 billionThe Binance cryptocurrency trading platform reported on Thursday a massive cyberattack and reported that more than $2.5 billion had been frozen to prevent a siphoning of these funds.The group published several contradictory messages on X, first ensuring that all funds deposit…
·Geneva, Switzerland
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Binance has frozen $3 billion worth of crypto assets, in what could be the largest crypto theft of all time.
·Helsinki, Finland
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Total News Sources123
Leaning Left15Leaning Right26Center24Last UpdatedBias Distribution40% Right
Bias Distribution
- 40% of the sources lean Right
40% Right
L 23%
C 37%
R 40%
Factuality
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