SShortSingh.
Back to feed

Crypto liquidations hit $1.57 billion as Binance hack pushes bitcoin and ether lower

0
·3 views

Bitcoin traded near $77,350 following a hack of Binance that reportedly involved $6.3 billion. The fallout drove crypto futures liquidations up to $1.57 billion. Bitcoin and ether both moved lower as traders reacted to the breach. The source article provides limited detail beyond these figures and price movements.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Log in to join the discussion and vote.

Log in

Related stories

0
Crypto & Web3CoinDesk ·

Ethereum upgrade enabled attacker to drain part of Binance funds

A bad actor exploited a 2025 Ethereum upgrade, which was designed to give standard wallets smarter functionality, to move assets out of Binance's holdings. The attacker reportedly used 50 signatures associated with Binance's own wallet to authorize the transfers. The episode is linked to part of a roughly $6 billion loss reported by the exchange. The article explains how the upgrade's features contributed to the drain. Further details on the scope and remediation were not specified in the source excerpt.

0
Crypto & Web3CoinDesk ·

Strategy CFO Andrew Kang resigns as firm reports record quarterly profit; MSTR shares drop 6%

Strategy's chief financial officer, Andrew Kang, has stepped down from his role. The departure coincides with the company reporting $21 billion in quarterly operating income, a record for the firm. Strategy also disclosed that it holds 848,517 bitcoin on its balance sheet. Despite the strong earnings, the company's MSTR stock fell 6% following the news.

0
Crypto & Web3CoinDesk ·

Binance hack stokes crypto jitters as Intel falls and AI spending fears weigh on tech

A reported $6.3 billion hack at Binance has added to unease across the cryptocurrency market. At the same time, weak earnings outlooks and growing worries about heavy spending on artificial intelligence pushed the Nasdaq-100 tracking fund QQQ down more than 2%. Intel shares plunged amid the broader tech selloff. The article presents these developments as a combined pressure on crypto and technology stocks in the same trading session.

0
Crypto & Web3CoinDesk ·

Binance hacker dumps obscure 2017 token, triggering a roughly 90% price crash

A hacker who previously breached Binance sold off FUN, a little-known token launched in 2017, along with several other smaller tokens. The markets for these assets were too thin to absorb such large sell orders. As a result, FUN's price plunged by roughly 90%. The episode highlights how illiquid cryptocurrencies can collapse quickly when a single large holder liquidates.