Potential multi-billion Binance hack hitting crypto markets
Cryptocurrency markets are experiencing a downturn following reports of a potential multi-billion dollar hack involving Binance. Major assets including Bitcoin, Ethereum, and BNB have seen significant price drops as investors react to the security concerns.
Why it matters
Security breaches at major exchanges can trigger widespread market volatility and raise concerns regarding the safety of digital asset custody.
The new account has more than $2 billion of various coins, including ETH, USDT, and USDC.
Crypto prices are headed lower, apparently on this news. Bitcoin BTC $79,024.12 is now down 2% in the last hour to $78,800, while ether ETH $2,258.91 is down 3%. Hardest hit is BNB Coin BNB $708.55 , down 6%.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in