Amid Bitcoin Decline, Three Altcoins Close to New Highs
HYPE, LEO, and WBT remain close to their all-time highs despite the crypto selloff sparked by the Binance hack.
1 h ago12 min read
Binance Hit by Record $6.3 Billion Crypto Hack
Binance suffered the largest crypto hack, with over $6.3 billion in assets moved on-chain. Around $3 billion was frozen, while $3.3 billion remains missing.
31/10/2026 01:134 min read
Binance experienced the largest crypto hack ever by dollar volume, with over $6.3 billion in impacted assets moving on-chain. Approximately $3 billion was frozen by stablecoin providers, leaving $3.3 billion unrecovered. The incident has contributed to a sense that crypto security now faces zero-day vulnerabilities daily.
In addition to the Binance news, a separate hack on the Polymarket platform took $2.7 million from user accounts. The overall crypto security climate is described as a daily zero-day emergency. The multi-chain aspect of the Binance incident points to custody weaknesses at the exchange. TRM Labs attributes the Binance breach to North Korea's TraderTraitor group. The funds were channeled via stablecoins and the Aave decentralized finance protocol. Questions are being raised about Binance's solvency and its capability to withstand such a massive loss. The freezing of stablecoins in response has intensified discussions about whether such actions undermine the ethos of permissionless finance. Meanwhile, bitcoin has shown resilience through previous hacks and bearish market conditions.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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