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Bitcoin Slips Below $77,000 as Binance Probe Rattles Crypto Markets

Binance estimated the incident’s impact at $6.3 billion and said about $3 billion had been frozen, while pledging to cover losses.

Updated 1 min read
A commuter checks a smartphone in Tokyo's Marunouchi district on a rainy evening. / EconoTimes.ai
A commuter checks a smartphone in Tokyo's Marunouchi district on a rainy evening. / EconoTimes.ai

Bitcoin (BTC) fell below $77,000 on Oct. 30 amid reports of a security incident at Binance. Ether (ETH) and Solana (SOL) also declined, Bloomberg reported, as the exchange investigated unauthorized withdrawals.

Binance’s initial investigation suggested that an attacker may have used a compromised laptop belonging to a DevOps engineer to access a service container and submit unauthorized withdrawal transactions. The exchange said it had found no evidence of a wallet private-key leak and estimated the incident’s total impact at about $6.3 billion.

The exchange said about $3 billion in assets had been frozen on-chain with help from blockchain partners. That followed an earlier Oct. 30 post putting the verified frozen total at $2.54 billion. Binance said it would cover losses through its Secure Asset Fund for Users and company funds; the $6.3 billion figure is an impact estimate, not a final net-loss figure.

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