Multiple Binance hot wallets made large-scale abnormal transfers in the early hours of the morning. On-chain monitoring showed billions of dollars in assets flowing out. Tether and Circle subsequently froze some stablecoins. Binance's latest response:
• User funds are safe
• Withdrawals and Binance Alpha trading have been suspended
• The total value of frozen assets has been verified at $2.54 billion, and may continue to increase. Impact of the event:
• BTC briefly fell below $78,000, with short-term volatility increasing • Liquidations across the market rose significantly, and sentiment turned cautious • Key things to watch: whether more assets are frozen, when withdrawals resume, and whether more on-chain details are disclosed. The situation is still developing, so avoid blindly chasing rallies or selling into declines. $BNB $BTC $ETH #Binance #Crypto
• BTC briefly fell below $78,000, with short-term volatility increasing • Liquidations across the market rose significantly, and sentiment turned cautious • Key things to watch: whether more assets are frozen, when withdrawals resume, and whether more on-chain details are disclosed. The situation is still developing, so avoid blindly chasing rallies or selling into declines. $BNB $BTC $ETH #Binance #Crypto