Bitcoin fell 5% to $77,000 and Ethereum fell 4% to $2,240 on the afternoon of Oct. 30, after reports of a $6.3 billion theft at Binance, described as the worst cryptocurrency attack ever. Binance temporarily suspended withdrawals, expects to resume them within 48 hours, and pledged to cover all losses, but reports say institutions are pulling assets from other exchanges. Elsewhere, Ripple secured a U.S. national trust bank license, while Datavault AI said it cannot access a large part of its Bitcoin and will restate its results, reducing reported assets by $92.2 million. Visa said its annualized stablecoin settlement volume surpassed $25 billion, a tenfold increase from a year earlier. Strategy's CFO Andrew Kang will step down on Nov. 5.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
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 10/29/2026 | 698.46 |
| Change that session | -8.08% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/29/2026 | 77,991.89 |
| Change that session | -4.12% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/29/2026 | 2,253.13 |
| Change that session | -4.52% |
币安人生USDT
▼ Likely negative币安人生 (BinanceLife)
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Meme |
| Market cap | $496.3M |
| Close on 10/29/2026 | 0.50450 |
| Change that session | -4.72% |
SOL/USDT
▼ Likely negativeSolana
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $59.7B |
| Close on 10/29/2026 | 95.64 |
| Change that session | -6.64% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Worried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms
Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say the roughly $6.3 billion Binance hack, the largest crypto theft ever, is unlikely to derail the broader market's recovery. Cantor's Ramsey El-Assal noted stablecoin issuers froze about $3 billion of the stolen funds, including over $1.5 billion by Tether, and said he would buy on weakness, expecting Coinbase, Robinhood and Strategy shares to recover. TD Cowen views the breach as a Binance security problem rather than a Bitcoin one, while Compass Point says Binance has more than enough liquidity to cover the shortfall, though reimbursements could strain stablecoin supply. Moody's Ratings is more cautious, citing hot-wallet cybersecurity risks and concentration risk at centralized intermediaries, with broader impact depending on final losses and confidence. Binance has set aside $6.34 billion to cover losses, the Secret Service and FBI have opened a probe, and TRM and Chainalysis link the hack to North Korea's TraderTraitor group.
- Morning Minute: Binance’s $6.4B Hack Overshadows Hyperliquid’s Biggest Day
An attacker stole about $6.4 billion from Binance, by a wide margin the largest crypto theft on record and roughly four times the $1.5 billion taken from Bybit in February 2025. The funds moved across three blockchains: about $3.5 billion in ETH, $1.4 billion in BTC and $630 million on Tron, with final accounting still underway. Tether and Circle froze about $2.39 billion of the stolen tokens (43% of the haul), while Aave froze its V3 and V4 markets on Ethereum to guard against bad debt. Binance said it has reserved over $6.34 billion in company funds to cover losses, and ZachXBT said the funds were commingled with the $388 million Bitget exploit and believes the same North Korean hacker group was behind both. Markets fell on the day, with over $1.33 billion in positions liquidated, after HYPE had surged on news that Intercontinental Exchange is investing in trade.xyz.
- Binance's $6.3 billion hack: What we know and what comes next
Binance suffered a hack with an estimated impact of $6.3 billion, with about $3 billion in assets frozen so far and the exchange pledging to cover all losses. TRM Labs attributed the attack with high confidence to TraderTraitor, a North Korean state-sponsored hacking unit, and Chainalysis also linked it to the same group. TRM Labs estimated about $6.36 billion was moved from Binance wallets across 10 blockchains, mostly within about 20 minutes, after preparations began at least 36 hours earlier. Stablecoins such as USDT and USDC are easier to recover because their issuers can freeze and reissue them, while bitcoin and ether are harder to recover. Fundstrat's Sean Farrell said the attack does not currently appear to pose meaningful solvency risk, given that roughly $3.3 billion remains unfrozen and the roughly $1.2 billion SAFU fund could cover part of the losses.
- Binance hack rattles crypto markets as BNB falls 7%, Bitcoin slides
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.
- 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%.
Related markets
Latest news
- Why gold plunged to its lowest price in a year despite renewed Iran jitters
Safe-haven gold fell to its lowest price in a year. The drop came despite renewed jitters over possible fresh Middle East attacks after the U.S. midterm elections on Tuesday.
- These 3 Big Risks Could Cause the Next Bear Market. I'm Investing Anyway.
The article argues that stocks always carry risk, pointing to the 2022 bear market when the S&P 500 fell about 18% and the Nasdaq-100 about 32% on a total return basis. The author outlines three risks: heavy reliance on AI, as Goldman Sachs research from September found the largest AI hyperscalers had spent about $800 billion in capital expenditures since the start of the year; rising rates, as the Fed hiked in September and the 10-year Treasury yield has risen about 0.92% over the past year; and high valuations, with the CAPE ratio at levels not seen since 2000, just before the dot-com crash. Even so, the author says they will keep investing and buying more stocks through low-cost index funds, noting the S&P 500 has averaged 9.98% annual returns since 1928 and the Vanguard S&P 500 ETF (VOO) about 13.8% a year over the past five years, including 2022.
- Stock Market Today, Oct. 30: Intel Plunges Nearly 29% as Weak Outlook Rattles Wall Street
Intel shares plunged 28.58% to close at $65.76, one of the steepest single-day declines in decades, despite the company beating quarterly earnings expectations. Investors reacted to weak fourth-quarter guidance citing softer PC demand, manufacturing constraints and ongoing turnaround spending. Trading volume reached 447.8 million shares, about 314% above the three-month average of 108.1 million. Intel’s Data Center and AI revenue rose 78% year over year to $7.3 billion, suggesting demand for data center infrastructure remains robust. AMD fell 10.88% to $504.80 and Nvidia dropped 4.22% to $204.64, while the Nasdaq Composite closed at 25,437, down 2.86%.
- Cracks are emerging in the AI spending boom
Investors are growing nervous about AI infrastructure spending, even as Alphabet, Amazon, Meta and Microsoft plan to spend more than $740 billion on capital expenditures this year. The Nasdaq fell 2.9% on Friday, with chip stocks hit hard and Qualcomm down 11%. Alphabet plunged 12% on Thursday, wiping out $500 billion in market value, and reported negative free cash flow of $9.1 billion in the third quarter while expecting to spend up to $205 billion this year, as its Search advertising growth slowed to 12% amid the rollout of AI Mode. Amazon posted negative free cash flow of $42.4 billion over the past 12 months despite 39% AWS growth, and Meta reported negative free cash flow of $2.1 billion in the third quarter even as ad revenue rose 26%. Negative cash flow, mounting debt and doubts about whether these investments will pay off are weighing on market sentiment.
- Binance Hack Shows Why Offshore Exchanges Need US Oversight, CFTC Chair Says
CFTC Chairman Michael Selig told CNBC that the $6.4 billion Binance hack “proves our exact point” for the crypto-market rules the agency proposed this month, arguing offshore exchanges need U.S. oversight. He attributed the flaw to a vulnerability “introduced from someone’s laptop” rather than to Ethereum or its smart contracts, and proposed a “federal option” letting such venues register with the CFTC and meet U.S. cybersecurity standards. Binance, however, said its investigation had found “additional points of breach,” and that the attacker used EIP-7702 to turn a hot wallet into a “sweeper” with 50 pre-signed authorizations. Binance has set aside $6.34 billion to cover losses, while the Secret Service and FBI are investigating, and TRM Labs and Chainalysis have linked the theft to North Korea’s TraderTraitor group.
- Anthropic turns profitable but could go back into losses: Seaport analyst
Seaport Research Partners analyst Jay Goldberg views Anthropic's operating profit of almost $1 billion as likely temporary. He said the company has warned it may be profitable in the next quarter or two before returning to losses, as it shifts from leasing computing capacity by the hour from Amazon to building its own compute, which it considers a key competitive advantage and will spend heavily on. Goldberg described the relationship with Amazon (AMZN) and Google (GOOG, GOOGL) as complex, since Anthropic is both a major customer, with a large share of Amazon's AI revenue coming from it, and a potential competitor. He does not think conclusions about Anthropic can be drawn from this week's tech market moves, citing interest rates and an ongoing war. Anthropic's computing bill is falling quickly, which is good news for now, but that is expected to reverse as it starts buying its own compute.
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.