Add as a preferred source on GoogleBinance Hack Spurs $6.3 Billion Loss Estimate as Bitcoin Falls
Several entities froze about $3 billion as Bitcoin hit a six-week low of $76,400 and crypto liquidations climbed to $1.5 billion.
Binance confirmed it was hit by a hack Friday, with losses estimated near $6.3 billion as Bitcoin (BTC) fell to a six-week low.
Several entities, including Tether, froze roughly $3 billion. Bitcoin fell to $76,400 before rebounding about $1,000. BNB dropped below $700, while Solana (SOL) slid more than 7%.
Crypto liquidations reached $1.5 billion, and more than 235,000 traders were wiped out over the day.
Bitcoin had touched $79,100 over the weekend and rebounded by about $2,000 on Sunday, then struggled to stay above $80,000. BTC rose to $81,800 after the Federal Reserve paused interest-rate hikes Wednesday, but fell to $80,500 Thursday before the Friday decline.
Simon Yoon
ReporterSimon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.