BNB Price Prediction: BNB Slides After Record $6.3 Billion…
By Karthik Subramanian
AI summary of the source article
Binance disclosed a security incident involving an estimated $6.3 billion drained from hot wallets across ten blockchains. Tether and Circle helped freeze approximately $3 billion in stolen assets, and Binance stated all user losses will be fully covered.
Why it matters
"The Binance exploit has intensified market-wide selling, with BNB facing the greatest exposure. About $1.5 billion in 24-hour liquidations, predominantly long positions, has amplified pressure on BTC and ETH."
Key facts
- Binance reported an estimated $6.3 billion security breach, which initial investigations linked to a compromised DevOps engineer's laptop.
- Tether froze over 1.567 billion USDT and Circle froze over 800 million USDC, bringing the verified frozen total to around $3 billion.
- Binance announced that all user losses will be covered through its Secure Asset Fund for Users (SAFU) and company funds.
Source excerpt · FinanceFeeds
The cryptocurrency market came under heavy pressure on October 29, 2026, after Binance, the world's largest crypto exchange, disclosed a security incident with an estimated impact of about $6.3 billion, the biggest theft in the history of digital assets. BNB, the exchange's native token, was hit harder than any other top-ten cryptocurrency. BNB dropped 8.7% in a single hour on Thursday evening, fa…