Binance suffered the biggest hack in crypto history, with about $6.3 billion affected, and security firm TRM Labs linked the incident to North Korea. Bitcoin dipped to $77,065 at 1:34 p.m. ET on Friday, down about 4% on the day, while data from Anchorage Digital showed bitcoin fell 8.3% on average in the first 24 hours after past exchange exploits. Sam Callahan of OranjeBTC and Spencer Hallarn of GSR said the breach was a security failure at a centralized exchange, not a failure of the bitcoin network, and that bitcoin has moved in step with other risk assets amid concerns over AI-related earnings. David Lawant of Anchorage Digital noted that only 6% of bitcoin is held in ETFs, suggesting many holders take a longer-term view.
Summary written by Upside AI from the original article. Read the source for full details.
Keywords
cryptobitcoinBinancecybersecurity
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 positiveBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/29/2026 | 77,991.89 |
| Change that session | -4.12% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Binance Hack: Why Bitcoin Didn't Crash Like It Did in 2018
Binance suffered a hack estimated at $6.4 billion, the largest on record and more than four times the $1.5 billion Bybit heist of February 2025, yet Bitcoin only dipped to about $76,400, roughly 6% below its post-Fed level. Unlike March 2018, when Bitcoin fell from $10,740 to $9,690 within minutes, the crypto market is now worth roughly $2.6 trillion versus just over $400 billion then, and U.S. spot Bitcoin ETFs hold roughly 1.3 million coins. Binance says it has set aside more than $6.34 billion to cover all losses, about $3 billion is frozen, and withdrawals should resume in 45 hours. The Fear and Greed index fell to 36 from 43, and more than $1.3 billion in leveraged positions were liquidated. Chainalysis and TRM Labs tie the attack to the North Korean group behind the Bybit heist.
- Why Bitcoin Is Down Today
Bitcoin fell about 5% over the 24 hours to 10:30 a.m. ET on Friday, Oct. 30, after hackers stole what the article calls the largest crypto theft on record from Binance. Attackers drained $6.3 billion from Binance's hot wallets across 10 blockchains, including 17,985 bitcoin worth about $1.45 billion. Blockchain analytics firms point to North Korea's TraderTraitor group, which the FBI blamed for the $1.5 billion Bybit hack in 2025, while Binance has suspended withdrawals until around Sunday, set aside $6.34 billion and said it will cover every loss. Bitcoin dropped to its lowest since Sept. 18, around $76,400, triggering some leveraged position sales, while the S&P 500 and Nasdaq Composite fell 1.3% and 2.1%.
- Inside the hunt for the hacker group that stole $6.3 billion: Where do the investigation leads point?
The $6.3 billion theft reportedly began when a DevOps engineer's laptop on Binance's internal infrastructure was compromised, rather than through a leak of wallet private keys. The exchange worked with blockchain partners to freeze about $3 billion on-chain, pledged to cover all losses from company funds and its emergency reserve, and expects to resume withdrawals within 48 hours. Blockchain analysts including TRM Labs and Chainalysis said the attack bears the hallmarks of North Korean cybercriminal groups, which Pyongyang firmly denied, calling the accusations fabricated. Co-CEO Richard Tend said the investigation has not yet identified any individual responsible or found evidence of a private-key leak. Bitcoin hit a six-week low of $76,368, while Ether fell more than 3% to a two-month low of $2,178 before markets stabilized.
- 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.
- Crypto liquidations jump to $1.57 billion as Binance hack sends bitcoin, ether lower
- Binance hacker's Bitcoin haul tops Coinbase's corporate treasury
The attackers behind the $6.3 billion Binance hack now hold 18,270 BTC, worth about $1.4 billion according to Bitquery, which exceeds the 18,071 BTC Coinbase reported as of late September (17,954 BTC for investment and 117 BTC for operations). They also hold 508,621 ETH, more than the 495,362 ETH that BitcoinTreasuries.net attributes to The Ether Machine. Bitquery said the attackers initially stole 200,630 ETH and accumulated the rest by swapping stolen stablecoins and other tokens. Binance confirmed the hack, said about $3 billion in stolen assets had been frozen, and pledged to cover all losses. TRM Labs attributed the attack to North Korea's TraderTraitor group.
Related markets
Latest news
- Tech gets crushed, defensive stocks shine. How we're making sense of it all
U.S. stocks fell sharply on the last trading day of October, with the S&P 500 down more than 2% and the Nasdaq down over 3.5% as the market continued to push back on AI-related tech names. Intel plunged over 30% after a disappointing outlook, and Sandisk fell 15% after underwhelming earnings. Amazon, Alphabet and Microsoft also dropped after their reports; the author sees the Amazon and Microsoft declines as less warranted, though investor appetite for capital-intensive AI spending appears to be waning. Jim Cramer said the Amazon dip is buyable and kept Amazon at a 1 rating, while Microsoft is nearing an upgrade to a buy-equivalent 1 if its slide continues and Alphabet stays at hold-equivalent 2. Healthcare stocks outperformed this week, led by Eli Lilly at a new all-time high, and the team still wants to add to its Boeing position; more than 100 S&P 500 companies report this week, October nonfarm payrolls are expected to add 72,500 jobs, and the midterms are on Tuesday.
- Apple Is Near a Record. Netflix Is Down More Than Half. I'd Buy Only 1 of Them.
Apple shares are roughly $350, near their all-time high and up about 29% so far in 2026, while Netflix trades near $62, about 54% below its June 2025 record close. Netflix looks cheaper on forward earnings, with a P/E around 17 versus about 37 for Apple based on analyst forecasts, but its revenue growth has slowed from 17.6% in Q4 2025 to 11.8% in its latest reported quarter, with guidance of 11.5% for Q4. Apple's management forecast fiscal Q4 revenue growth of just 9% to 11%, but its installed base tops 2.5 billion active devices and services made up about 42% of gross profit. The author sees most of Apple's AI payoff still ahead, through features users might pay for and new devices like HomeView, while the foldable iPhone Duo starting at $1,999 adds a pricier tier. The author judges Apple the more durable of the two despite its higher valuation, and says he would build a position gradually.
- Video - CEO Clips: Alex Metals: Searching for the Next Major Silver-Gold Discovery in Alaska
Alex Metals (TSXV: ALX) is advancing three exploration projects in Southeast Alaska, targeting high-grade silver, gold, zinc and copper. The company recently completed an exploration program of approximately $8 million, including drilling at two projects and fieldwork at a third. Led by an experienced exploration team, it aims to find deposits similar to Alaska's Greens Creek Mine.
- Googling for Reddit answers is about to get harder
Reddit will first test its new approach outside the U.S. The change could reshape how millions of people find real-world advice.
- Why Did Rivian Stock Surge Higher on Friday?
Rivian shares jumped over 7% early Friday and were still up 1.1% as the Nasdaq Composite fell more than 3.5%. The EV maker reported a third-quarter loss, but it was $0.14 better than Wall Street expected, and revenue also beat estimates, helped by the successful ramp-up of its new R2 SUV production. Rivian raised its 2026 guidance, posting gross profit of $176 million and narrowing its operating loss by $100 million from a year earlier. The company ended the quarter with over $5.5 billion in cash and equivalents and expects R2 to reach a positive gross margin by the end of this year. CEO R.J. Scaringe told CNBC that the ramp-up is critical for R2 to reach positive gross margin, which will ultimately contribute to positive gross margin for the business.
- The Front Page of The Internet Becomes A Walled Garden
Reddit requires users to log in so it can show them ads. The article argues this undermines the idea of an open internet.
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.