Cryptocurrency markets fell sharply on Thursday after reports of a potential multibillion-dollar hack involving Binance wallets unsettled investors. BNB dropped 7.2% over 24 hours to about $702, while Bitcoin fell 3.1% to about $78,674 and Ether slid 4% to about $2,263. Blockaid identified approximately $3.3 billion in suspicious transfers, and Arkham Intelligence tracked about $5.84 billion in assets held by wallets labeled “binance-hacker-1029,” though neither figure is a confirmed theft amount. Binance said it was investigating and that user funds were “completely safe,” while Tether and Circle said they had frozen more than $2.3 billion in stablecoins linked to the incident.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Cointelegraph ↗
Keywords
cryptobitcoinBinancecybersecuritystablecoins
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $97.5B |
| Close on 10/28/2026 | 759.85 |
| Change that session | +2.00% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/28/2026 | 81,343.50 |
| Change that session | +0.54% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/28/2026 | 2,359.68 |
| Change that session | +0.40% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Circle, Tether freeze funds impacted by potential Binance 'security issue'
Circle and Tether froze roughly $1.8 billion in funds tied to a potential hack of Binance, the largest crypto exchange by daily trading volume. Binance has not confirmed an exploit but said it is investigating “a potential security issue” and that user funds are completely safe. Circle CEO Jeremy Allaire said more than 800 million in USD Coin was frozen, while Tether's CEO said the firm froze more than 1.5 billion of its stablecoin. Bitcoin fell more than 3% below $80,000, and Circle shares dropped about 5% in off-hours trading.
- Binance Drained of $5.5 Billion in Suspected Hack, Tether and Circle Freeze $1.8 Billion
At least $5.57 billion has left Binance-linked wallets on Ethereum, Bitcoin and Tron on Thursday, according to an on-chain tally, and Binance says it is investigating and has not confirmed any impact on user funds. If confirmed as a hack, it would be the largest crypto theft on record. Tether froze 975.1 million USDT and Circle froze 823 million USDC in the main receiving wallet, about $1.8 billion in total. The funds came from hot wallets: $3.51 billion on Ethereum, $1.44 billion in 18,270 Bitcoin and $630 million on Tron. Bitcoin fell below $79,000, BNB dropped about 7% and Monero rose about 6%.
- Binance investigates potential multibillion-dollar hack
Binance is investigating a potential security breach involving an Ethereum wallet after suspicious transfers, while Tether and Circle reportedly froze nearly $1.8 billion in assets. Binance has not confirmed any impact on user funds, but co-founder Changpeng Zhao (CZ) said the activity appeared to be a hack, that Tether and Circle had frozen about $971 million and $823 million, respectively, and that he expected all user funds to be fully covered. Blockchain researcher Spreek first raised concerns after assets from a Binance-linked Ethereum wallet were moved to a new address via a contract call allegedly funded by Tornado Cash. Later, Tether and Circle said they had frozen more than $2.36 billion, including over $800 million in USDC frozen in coordination with law enforcement and more than $1.567 billion in USDT.
- Binance Hacker Hunts for Exit Ramps as DeFi Exchanges Pause Markets
Wallets linked to Binance were drained of at least $5.5 billion, and the total is still rising. The funds were moved through the decentralized exchange Uniswap and the lending app Aave, swapping stablecoins that issuers can freeze for ETH, which has no issuer able to freeze it. Stablecoin issuers have frozen more than $2 billion in USDT and USDC, and Ripple has frozen about $200 million in RLUSD, according to Binance co-CEO Yi He. Even so, about 253,000 ETH, roughly $570 million, sat in two wallets with no outgoing transfers as of 22:07 UTC. Aave froze its V3 markets on Ethereum, Kamino paused borrowing in its SOL/BTC market as a precaution, and Binance said it was investigating the security incident but had not confirmed that user funds were affected.
- Potential multi-billion Binance hack hitting crypto markets
- RedotPay weighs confidential US IPO filing by year-end: Bloomberg
According to Bloomberg, Hong Kong-based stablecoin payments company RedotPay is considering a confidential U.S. IPO filing by the end of 2026, two months after reports it had delayed its listing amid regulatory and legal hurdles. It is also in talks with investors on a pre-IPO funding round that could value the company at $4 billion to $5 billion, and says it has more than 8 million users. Paymentscan data show $410.5 million in 30-day stablecoin card transaction volume. In February, the company was reportedly exploring a New York listing that could raise more than $1 billion, and Bloomberg reported in August that the plans were delayed amid regulatory hurdles and disputes involving Binance, which RedotPay disputed. Also in August, Binance-affiliated companies sued RedotPay's founders for nearly $473 million, and the company denies the allegations.
Related markets
Latest news
- Buenaventura Announces Third Quarter and Nine-Month 2026 Results
Buenaventura announced its third-quarter and nine-month 2026 results. Direct copper production rose 7% year-over-year, mainly from higher ore throughput at El Brocal, while direct gold fell 6%; equity-attributable gold, including associates, rose 7% on a full quarter at nameplate capacity at Coimolache. Silver output fell 21%, lead 12% and zinc 1%. Direct-operations EBITDA was US$261.2 million in 3Q26 (vs US$195.3 million in 3Q25) and net income was US$268.4 million (vs US$179.0 million); for nine months, EBITDA was US$882.0 million and net income US$825.4 million. Processing at San Gabriel was constrained for most of the quarter during tailings filtration reinforcement, resuming in the final week of September. The company reported cash of US$1,000.6 million and negative net debt of US$307.3 million, and its Board approved a dividend of US$0.5508 per share or ADS.
- Facing Pham Nhat Vuong on home turf: what opportunity for Elon Musk?
Tesla Motors Vietnam Co., Ltd. was registered in Ho Chi Minh City on September 11, 2026, with charter capital of about 77.7 billion VND (roughly US$3 million), according to business registration records, while Tesla has not announced models, prices, showrooms or launch timing. Analysts see the entity as serving imported vehicle sales and after-sales service, with no sign of local assembly. VinFast holds about 92% of Vietnam's EV market share, according to HSC Securities cited by CNBC, backed by its showroom, service and charging network. Model 3 and Model Y are expected to be the first models, initially targeting high-income buyers. Starlink, SpaceX's satellite internet service, was licensed in February 2026 and began selling in mid-August 2026, with family plans from about 1.13 million VND per month.
- Amazon.com Q3 Earnings Call Highlights
Amazon reported third-quarter revenue up 12% to $201.9 billion and operating income up 61% to $28.1 billion, with a record 13.9% operating margin. AWS revenue reached $46 billion, up 39.3%, with a $578 billion backlog, and management expects AWS growth above 40% in 2027 and 2028, driven by AI infrastructure, Bedrock and custom chips. Capital expenditures were $75.9 billion in the quarter and are expected to total about $220 billion in 2026, with further increases in 2027. Amazon forecast fourth-quarter net sales of $240 billion to $247 billion and operating income of $28.5 billion to $33.5 billion. North America revenue rose 6% to $112.9 billion, while management highlighted faster delivery and grocery expansion.
- Semiconductor Sell-Off: The 1 AI Chip Stock I'd Buy and 1 I'd Avoid
The article argues a semiconductor sell-off may offer a chance to join the AI boom at a lower price, but not every chip stock is equally suited. Broadcom (AVGO) is viewed positively for AI semiconductor revenue up 221% year over year in fiscal Q3 2026, driven by custom accelerators and AI networking, and a forward P/E of about 18 that the author finds attractive. Its key risk is reliance on a small group of large customers. Intel (INTC) is described as in a turnaround, investing in its Intel 18A process and Intel Foundry, but its forward P/E of about 51 leaves less room for disappointment if execution falls short. The author concludes Broadcom is the stronger choice for investors seeking AI growth at a reasonable price.
- Binance hack may involve private key 'misuse,' not theft: Blockaid CEO
Blockaid CEO Ido Ben-Natan preliminarily assesses that attackers may have manipulated Binance's transaction-signing infrastructure rather than stealing private keys, with similarities to the February 2025 Bybit hack. In Blockaid's onchain analysis, the attacker bundled 50 EIP-7702 authorizations into one transaction targeting Binance 14, delegating the affected account to an unverified sweeper contract. Binance has not confirmed the method used to steal over $2.5 billion in crypto, which is described as the largest crypto hack in history. Ben-Natan said the activity may have involved multiple compromised devices, though this is unconfirmed, and its sophistication resembles operations linked to North Korean attackers.
- Is Alphabet Stock a Buy After Its Post-Earnings Drop?
Alphabet shares fell about 10% in after-hours trading on October 28, despite third-quarter revenue up 25% to $127.6 billion and Google Cloud revenue more than doubling. Earnings per share fell to $2.12 from $2.87, and free cash flow was negative for a second straight quarter as capital spending rose to $51.4 billion. The author argues the EPS decline looks worse than it is: excluding investment gains and losses, EPS rose about 22% to about $2.67, and Google Cloud revenue grew 103% to $30.7 billion. However, the operating margin fell to 31.8%, and the 2026 capex outlook of $195 billion to $205 billion points to continued heavy spending. The author says the stock at about 19 times expected 2027 earnings looks reasonably priced, though free cash flow may worsen before it improves.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.