# Crypto Hack Wave: Binance to Mercado Bitcoin
Binance reported a ~$6.3B exploit Oct. 29; Mercado Bitcoin disclosed a breach Nov. 2. Bitget lost ~$387M in September. ZachXBT alleges at least $133M was withdrawn from accounts linked to a European entity and concealed; unverified.
## Incidents
**Binance:** ~$3.8B reportedly left via Ethereum and ~$1.5B in 18,270 BTC. Withdrawals halted; Binance pledged SAFU coverage. About $3B was frozen, mainly USDT/USDC. TRM Labs and Elliptic attributed the attack to North Korea-linked TraderTraitor; Pyongyang denies it.
**Bitget:** A third-party backend flaw enabled ~$387.5M in unauthorized withdrawals across seven chains on Sept. 24. CEO Gracy Chen said its $465M+ protection fund covered losses.
**Mercado Bitcoin:** Brazil’s largest exchange paused deposits/withdrawals Nov. 2. Arkham estimated ~$46M involved. The company said customers were unharmed and no data leaked; Tether froze 4.5M USDT.
## ZachXBT Claim
ZachXBT cited $106M, then another $27M. He suspects a Western European financial institution was exploited and the incident concealed. The victim is unidentified; funds reportedly moved from USDC/USDT to ETH, then Monero. Kraken and Crypto . Com restricted related accounts. Details remain unverified.
## Market Risks
Breaches may erode trust, trigger exchange outflows and boost self-custody. Tighter reporting, reserve proof and audits could raise costs. Stolen BTC may add selling pressure; stablecoin freezes highlight intervention capacity and centralization risks. Smaller exchanges may lack reimbursement funds. Attacks increasingly target employees, software and supply chains.
## Bitcoin Outlook
$BTC fell ~4–5% to $76K–77K after Binance’s breach; the Bitcoin network was not hacked. Movement of 18,270 BTC and weaker new demand remain risks.
Exchange and blockchain security differ. Diversify custody and treat unverified claims cautiously. Not investment advice. $ETH
Binance reported a ~$6.3B exploit Oct. 29; Mercado Bitcoin disclosed a breach Nov. 2. Bitget lost ~$387M in September. ZachXBT alleges at least $133M was withdrawn from accounts linked to a European entity and concealed; unverified.
## Incidents
**Binance:** ~$3.8B reportedly left via Ethereum and ~$1.5B in 18,270 BTC. Withdrawals halted; Binance pledged SAFU coverage. About $3B was frozen, mainly USDT/USDC. TRM Labs and Elliptic attributed the attack to North Korea-linked TraderTraitor; Pyongyang denies it.
**Bitget:** A third-party backend flaw enabled ~$387.5M in unauthorized withdrawals across seven chains on Sept. 24. CEO Gracy Chen said its $465M+ protection fund covered losses.
**Mercado Bitcoin:** Brazil’s largest exchange paused deposits/withdrawals Nov. 2. Arkham estimated ~$46M involved. The company said customers were unharmed and no data leaked; Tether froze 4.5M USDT.
## ZachXBT Claim
ZachXBT cited $106M, then another $27M. He suspects a Western European financial institution was exploited and the incident concealed. The victim is unidentified; funds reportedly moved from USDC/USDT to ETH, then Monero. Kraken and Crypto . Com restricted related accounts. Details remain unverified.
## Market Risks
Breaches may erode trust, trigger exchange outflows and boost self-custody. Tighter reporting, reserve proof and audits could raise costs. Stolen BTC may add selling pressure; stablecoin freezes highlight intervention capacity and centralization risks. Smaller exchanges may lack reimbursement funds. Attacks increasingly target employees, software and supply chains.
## Bitcoin Outlook
$BTC fell ~4–5% to $76K–77K after Binance’s breach; the Bitcoin network was not hacked. Movement of 18,270 BTC and weaker new demand remain risks.
Exchange and blockchain security differ. Diversify custody and treat unverified claims cautiously. Not investment advice. $ETH
