Potential Binance Hack Sparks Alarm After Billions in Crypto Are Moved

Maximum tension across the crypto ecosystem over reports of abnormal outflows exceeding $2 billion from Binance hot wallets . The incident, detected on the afternoon of Thursday, October 29, involved massive transfers of ETH and other linked assets, raising suspicions of a potential hack. Despite widespread alarm, spokespersons linked to the exchange stated that user balances remain protected while the technical investigation proceeds. The impact on the crypto market was immediate: the price of Bitcoin retreated to $78,000, while leveraged liquidations exceeded $620 million in just one hour. In a coordinated response, issuers of major stablecoins moved to freeze suspicious addresses to halt the liquidity drain. The entire industry is closely following the details of this potential event.

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