#Binance suffered a hack involving $6.3 billion; here are the effects it had on Bitcoin, in actual figures.
I've been looking into this ever since last night and would like to distinguish between what has been confirmed and all the surrounding noise.
funds began to move out of Binance wallets on ten different blockchains. The company states that the total amount affected is approximately $6.3 billion, making it the biggest crypto theft ever recorded, some four times greater than the $1.5 billion theft from Bybit in February 2025.
A quick response was made; so far around $3 billion has been frozen, approximately $1.56 billion by Tether and about $800 million by Circle, and Binance has said that it will compensate all user losses.
The initial results indicate that the attack was made possible through a compromised DevOps engineer's laptop, enabling the attacker to gain access to a service container and carry out unauthorized withdrawals. While the investigation is ongoing, both deposits and withdrawals have been suspended.
The attribution of the attack to North Korea's TraderTraitor group is something that TRM Labs has stated, but it is the analytics firm's own attribution and not a finding that has been confirmed.
whether this incident caused a crash in Bitcoin?
The price of BTC dropped by about 4 per cent, falling from just above $80,000 to around $77,000 over the course of the night. BNB decreased in value by between 5 and 7 per cent, reaching about $700, ETH fell by approximately 4 to 5 per cent, and XRP lost about 7 per cent.
Liquidations amounted to about $1.5 billion within 24 hours, roughly 85% of which were long positions. This shows that leverage had increased the extent of the move, together with the impact of the hack.
I'm watching three things next:
• Whether or not the withdrawals can be reopened smoothly.
• Whether the frozen amount will exceed $3 billion.
• What the final estimate of the loss will be, as the figures currently vary from $5.9 billion to $6.36 billion.
What exactly did you observe on your screen overnight?
$BTC
I've been looking into this ever since last night and would like to distinguish between what has been confirmed and all the surrounding noise.
funds began to move out of Binance wallets on ten different blockchains. The company states that the total amount affected is approximately $6.3 billion, making it the biggest crypto theft ever recorded, some four times greater than the $1.5 billion theft from Bybit in February 2025.
A quick response was made; so far around $3 billion has been frozen, approximately $1.56 billion by Tether and about $800 million by Circle, and Binance has said that it will compensate all user losses.
The initial results indicate that the attack was made possible through a compromised DevOps engineer's laptop, enabling the attacker to gain access to a service container and carry out unauthorized withdrawals. While the investigation is ongoing, both deposits and withdrawals have been suspended.
The attribution of the attack to North Korea's TraderTraitor group is something that TRM Labs has stated, but it is the analytics firm's own attribution and not a finding that has been confirmed.
whether this incident caused a crash in Bitcoin?
The price of BTC dropped by about 4 per cent, falling from just above $80,000 to around $77,000 over the course of the night. BNB decreased in value by between 5 and 7 per cent, reaching about $700, ETH fell by approximately 4 to 5 per cent, and XRP lost about 7 per cent.
Liquidations amounted to about $1.5 billion within 24 hours, roughly 85% of which were long positions. This shows that leverage had increased the extent of the move, together with the impact of the hack.
I'm watching three things next:
• Whether or not the withdrawals can be reopened smoothly.
• Whether the frozen amount will exceed $3 billion.
• What the final estimate of the loss will be, as the figures currently vary from $5.9 billion to $6.36 billion.
What exactly did you observe on your screen overnight?
$BTC
