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Binance suffered a major hack moving roughly $5.9 billion out of its wallets, while Bitcoin slipped below $79,000 to around $77,000
15,874 posts · 9,015 accounts · +31% vs the day before
- The hack resulted in approximately $5.9 billion in outflows from Binance‑linked wallets across Bitcoin, Ethereum and Tron, according to reports from multiple users[38][49][41]
- Bitcoin price fell below $79,000, trading near $77,000 after the hack, with the ticker dropping about 2% in the immediate aftermath[2][32][39]
- On‑chain analysis shows the attacker used 50 authorisations signed with the compromised wallet’s own private key, indicating a sophisticated breach[41]
- Binance CEO CZ publicly confirmed the exchange was hacked but asserted that user funds are safe and will be fully covered
- Despite the large theft, the broader market reaction was muted, with Bitcoin only down about 2% and other crypto assets showing limited volatility[52][39]
Posts cited
[2] korex · @korexlabs ·
BREAKING: Bitcoin falls below $79,000 📉
Open on X[32] BTCC · @btccexchange ·
Binance got hacked and $BTC drop to $77k Trade on BTCC🔎https://t.co/DBnQ0ANDKy
Open on X[38] James Lavish · @jameslavish ·
Good evening. To everyone reading about the $5.9 billion Binance hack and declaring cryptocurrencies and Bitcoin dead, two things: 1) Bitcoin itself was not hacked, an exchange managing cryptocurrency wallets and holding the keys was hacked. 2) Former CEO CZ says that he expects Binance to fully cover the losses with their $144B balance sheet. This event in no way shape or form exposed or impaired the Bitcoin network. Have a great night.
Open on X[39] Crypto Rover · @cryptorover ·
$BTC just dropped below $78,000 for the first time in 1.5 months. $700 million worth of crypto longs have been liquidated in the past 4 hours. The sell-off continues…
Open on X[41] International Cyber Digest · @intcyberdigest ·
‼️ UPDATE ON THE BINANCE HACK: Whoever emptied a Binance hot wallet had 50 authorisations signed with that wallet's own private key, on-chain data shows. Under Ethereum's EIP-7702, an authorisation is a signed permission that lets a wallet hand control of itself to code. Each one works only for the wallet's next transaction number, its nonce. Binance's wallet was still sending transactions, so that number kept moving. The sender didn't know which number would be live, so they packed all 50 into one transaction, Blockaid says. One matched. That one installed a sweeper contract on the wallet. Blockaid found that only the Tornado Cash-funded sender can operate it. Minutes later it emptied the wallet of $1.6B in USDT, 167,464 ETH and 60+ other tokens. Only that key, or the system that holds it, can produce those signatures. How the sender got them is unknown. Across Ethereum, Bitcoin and Tron, at least $5.57B left Binance-linked wallets. Binance says user funds are "completely safe" but has not explained how.
Open on X[49] Cointelegraph · @cointelegraph ·
🚨 JUST IN: Approximately $5.7 billion left Binance-linked wallets across Ethereum, Bitcoin and Tron in a suspected hack that the exchange is investigating.
Open on X[52] Doc · @docxbt ·
Binance gets hacked for 5 billion dollars BTC: -2%
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Written by an AI model from public posts; it can be wrong. Check the sources.