📡 Market Update | Binance Security Incident
Binance is investigating a potential security issue after large outflows from its hot wallets late on October 29. Binance says user funds are safe and has temporarily paused withdrawals on multiple networks as a precaution.
Founder CZ said on X that it looks like a hack and that he expects user funds to be fully covered. Tether and Circle have frozen over 2.3B in stablecoins linked to the incident.
Estimates of the outflow range from about 2B to 5.8B, and no final total is confirmed. BTC slipped below 80K as the news spread, with around 600M in liquidations within an hour. BNB fell about 6 percent as the news spread.
📌 Personal opinion, not financial advice. DYOR.
#BTC #Binance #CryptoMarket #Altcoins
$BTCUSDT $BNBUSDT $ETHUSDT
Binance is investigating a potential security issue after large outflows from its hot wallets late on October 29. Binance says user funds are safe and has temporarily paused withdrawals on multiple networks as a precaution.
Founder CZ said on X that it looks like a hack and that he expects user funds to be fully covered. Tether and Circle have frozen over 2.3B in stablecoins linked to the incident.
Estimates of the outflow range from about 2B to 5.8B, and no final total is confirmed. BTC slipped below 80K as the news spread, with around 600M in liquidations within an hour. BNB fell about 6 percent as the news spread.
📌 Personal opinion, not financial advice. DYOR.
#BTC #Binance #CryptoMarket #Altcoins
$BTCUSDT $BNBUSDT $ETHUSDT
