🚨 A dark day for crypto: consecutive hacks shake the market.. !
Over the past few hours, the world of cryptocurrencies has seen a series of security breaches that have sparked panic among traders.
The most notable was the suspected incident at Binance, where massive transfers worth between $2.5 billion and $3.5 billion moved from hot wallets to new addresses. Changpeng Zhao (CZ) himself said it looked like a hack, while Tether and Circle quickly froze around $1.8 billion in stablecoins. Binance confirmed it was investigating but had not yet confirmed any impact on users.
At the same time, Polymarket suffered a hack that resulted in around $2.6–$2.7 million being withdrawn from users’ wallets. The platform temporarily halted trading, then resumed it, and pledged to compensate those affected.
And let’s not forget Ledger’s ongoing issues involving tampered devices in the supply chain, in addition to smaller incidents and some exploits in protocols.
The market reacted swiftly and harshly. Liquidations exceeded $600 million in a single hour (mostly long positions), and Bitcoin briefly fell below $79,000, while Ethereum also declined. Fear took hold, liquidity dried up, and selling pressure intensified.
This day reminds us that security remains crypto’s biggest challenge, whether on centralized exchanges, bridges, or even physical devices.
“Not your keys, not your coins” is no longer just a slogan.
#Alert🔴 #crypto
Over the past few hours, the world of cryptocurrencies has seen a series of security breaches that have sparked panic among traders.
The most notable was the suspected incident at Binance, where massive transfers worth between $2.5 billion and $3.5 billion moved from hot wallets to new addresses. Changpeng Zhao (CZ) himself said it looked like a hack, while Tether and Circle quickly froze around $1.8 billion in stablecoins. Binance confirmed it was investigating but had not yet confirmed any impact on users.
At the same time, Polymarket suffered a hack that resulted in around $2.6–$2.7 million being withdrawn from users’ wallets. The platform temporarily halted trading, then resumed it, and pledged to compensate those affected.
And let’s not forget Ledger’s ongoing issues involving tampered devices in the supply chain, in addition to smaller incidents and some exploits in protocols.
The market reacted swiftly and harshly. Liquidations exceeded $600 million in a single hour (mostly long positions), and Bitcoin briefly fell below $79,000, while Ethereum also declined. Fear took hold, liquidity dried up, and selling pressure intensified.
This day reminds us that security remains crypto’s biggest challenge, whether on centralized exchanges, bridges, or even physical devices.
“Not your keys, not your coins” is no longer just a slogan.
#Alert🔴 #crypto
