On-chain tallies put the suspected Binance hot-wallet drain around $5.5–5.8 billion across three chains. Bitcoin slipped to about $77,000. BNB fell roughly 7–8%, and the broader market sold with it.
Binance’s own reserve data lists the drained wallets as ones backing customer balances, leaving ether coverage an estimated 6% short until the stolen funds are replaced. Co-CEO Yi He said the exchange will cover all user losses. The firm says it is investigating.
Tether and Circle froze about $1.8 billion after the outflows. Binance later said roughly $3 billion in crypto had been frozen in connection with the hack, with more freezes possible as investigators follow the money.
$USDC $BTC $BNB
Binance’s own reserve data lists the drained wallets as ones backing customer balances, leaving ether coverage an estimated 6% short until the stolen funds are replaced. Co-CEO Yi He said the exchange will cover all user losses. The firm says it is investigating.
Tether and Circle froze about $1.8 billion after the outflows. Binance later said roughly $3 billion in crypto had been frozen in connection with the hack, with more freezes possible as investigators follow the money.
$USDC $BTC $BNB