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%.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
bitcoincryptocybersecurityBinance
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
▼ Likely negativeBitcoin
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% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/29/2026 | 2,253.13 |
| Change that session | -4.52% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Why bitcoin held up better after the record Binance hack
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.
- 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.
- 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.
Related markets
Latest news
- Investing.com’s stocks of the week
Alphabet plunged 12.6% on Thursday, its worst single-day performance, after third-quarter earnings fell short of expectations, and Citizens downgraded the stock to Market Perform. Intel fell 30.3% on Friday despite a third-quarter beat, as fourth-quarter revenue guidance of $15 billion to $16 billion came in below the $17.08 billion analysts expected; Bank of America downgraded it to Neutral. Amazon slipped 2.2% to $238.27 after missing on both revenue and profit, while ServiceNow and Fortinet fell 27% and 20.1% on Thursday. Coinbase dropped 13.4% on Friday to a more than two-year low, weighed by the Binance hack that saw $6.36 billion stolen, the largest crypto theft on record.
- Wall Street's Next Blockbuster Stock Split Has Arrived -- The Stock Has Gained 3,050% Since Its 2025 Debut and Still More Upside Ahead, According to Wall Street
Sandisk (SNDK) announced an 8-for-1 stock split alongside its fiscal 2027 first-quarter results, under which shareholders of record as of Nov. 9, 2026 will receive seven additional shares for each share held, with split-adjusted trading expected from Nov. 20. Revenue for the quarter reached $11 billion, up 378% year over year, and adjusted EPS came in at $49.51, ahead of analyst consensus. Management said customers are increasing supply commitments, and the company has shifted to long-term supply agreements with minimum prices, averaging four years or longer. The stock has gained 3,050% since its spin-off from Western Digital but has fallen more than 50% from its late-June peak; of 25 analysts who rated it in October, 84% rate it a buy or strong buy, with an average price target of about $2,143. Melius Research holds the highest target at $3,600.
- The Gold-Silver Ratio Just Hit 80. Here's What History Says Happens Next.
The gold-silver ratio, the number of silver ounces needed to buy one ounce of gold, has reached 80 with gold at $3,919 and silver at $49 per ounce. The 80-50 rule of thumb calls 50–80 neutral, but its results have been mixed: the ratio fell to 46 on Jan. 29, 2026, its lowest since 2011, and silver bought at $49 last October would have more than doubled, beating gold's roughly 40% gain, though investors who later switched back to gold lost ground. The article notes that silver's dual role as a precious and industrial metal, with about 74% of output a byproduct of other mining, leaves it exposed to rising rates, the Iran war and inflation. It cites a silver deficit forecast to widen from 40.3 million ounces in 2025 to 46.3 million ounces in 2026. Even with silver cheaper on this measure, the author says the ratio does not necessarily signal the best time to invest.
- Nvidia’s GPU Rents Surge as Anthropic’s Revenue Has “Gone Vertical,” Says Gavin Baker
Anthropic's S-1, filed Monday, shows $2.08 of revenue per dollar of compute, up from $0.40 a year earlier, according to an analysis Gavin Baker endorsed. Baker argues that cheaper tokens raise total compute spending, which supports demand and pricing for Nvidia's GPUs; Social Capital puts H100 rental prices up 45% since December. Anthropic posted GAAP operating income of $974 million in the second quarter, and Nvidia has invested $10 billion in the lab. Analysts expect Nvidia's revenue to grow from $215.9 billion in fiscal 2026 to $692 billion in fiscal 2028, though gross margin is expected to dip to 71% to 72% in the January 2027 quarter as memory costs rise. The stock trades at 18x forward earnings versus a three-year average of 30x, ahead of its Nov. 17 report.
- Alphabet's October wipeout hits $766 billion, its worst month ever
Alphabet (GOOGL) lost $477 billion in market value for the week through Friday's low, its worst week ever, after shares plunged $475 billion in one session on Thursday following third-quarter results. For October, the stock had shed about $766 billion at its low, second only to SpaceX's roughly $822 billion loss in July, and was down nearly 19% for the month, its steepest monthly drop since the 2004 IPO. Other megacaps also fell sharply, with Intel sliding as much as 30% after a weak outlook and Amazon losing about $70 billion for the week, while Eli Lilly, Tesla and SK Hynix added about $370 billion combined. UBS's chief investment office argued that retreating from markets does not protect portfolios and that investors should build resilient portfolios with exposure beyond tech. Alphabet closing at or below $280.50 on Friday would lock in its worst month since the IPO in percentage terms.
- Broadcom Stock Outlook Hinges On AI Chip Growth And Anthropic Partnership
Broadcom reported sharp growth in AI semiconductor revenue and expanded custom accelerator work with Anthropic and Meta, while its TrueSource Spring Enterprise release shipped 89 security fixes. The article says the outlook hinges on AI chip growth offsetting margin pressure, with Q4 2026 gross margin guided to 73% from 77.1% in Q2 2026 and about US$29b of potential exposure from AI XPV residual value guarantees. Analyst models assume revenue growth of about 52.7% a year and earnings rising from US$38.3b today to a consensus US$155.8b by 2029, implying a P/E of 23.0x versus 44.3x now. The consensus price target of US$531.85 sits above the current US$355.10 share price, though individual targets range from US$215.88 to US$715.00.
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.