Bitcoin, cryptocurrency prices fall after Binance reports security issue
Binance said it is working with law enforcement and stablecoin issuers after freezing about $3 billion in assets linked to the suspected breach.
- 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.
135 Articles
135 Articles
The Binance cryptocurrency platform reported, this Thursday, that it was the victim of a major hacker attack, which led to the freezing of more than $2.5 billion (about R$13.46 billion) to prevent them being stolen. The company — the largest cryptocurrency trading platform in the world in daily volume of operations — reported that it suspended the trading of certain products and ensured that users' funds "are completely safe." However, several e…
Binance suspended deposits and withdrawals following an alleged hack that led to the freezing of more than $2.5 billion.
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…
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