News
The day at a glance · 3 min read
Mood · Risk-Off
-85
Sentiment, −100 to +100
Binance Hack Total
$6.4B
Assets Frozen
$3B
BTC Stolen
18,270
Key driverRecord $6.4 billion Binance hack attributed to North Korean actors triggered widespread crypto market selloff and exchange contagion fears
Daily briefCrypto & Web3· Money365.Market AI ·

Binance $6.4B Hack Rocks Crypto Markets

North Korea-linked attackers drain billions across ten blockchains; bitcoin and ether tumble as $1.5 billion in leveraged bets liquidated

Binance Security Breach

Bearish

ETH Stolen

500,000+

Leveraged Liquidations

$1.5B
COIN
01COIN
A hacked laptop belonging to one engineer opened a door that allowed attackers to drain $6.4 billion from Binance across ten blockchains in under 20 minutes, according to reports. TRM Labs has linked the attack with high confidence to North Korea's TraderTraitor group, which has executed similar operations previously. Binance announced it froze $3 billion in crypto assets following the potential security issue, while hackers held 18,270 BTC and more than 500,000 ETH early Friday, exceeding Coinbase ($COIN)'s reported corporate treasury holdings.
02
Security experts say attackers could have drained Binance's wallets without EIP-7702, but the Ethereum upgrade may have helped bypass withdrawal safeguards. The hackers split $1.4 billion of bitcoin into 19 wallets that cannot be frozen and dumped a little-known 2017 token that subsequently crashed 90%. ZachXBT identified stolen funds from the Binance and Bitget hacks converging at the same address.
03
The market impact extended beyond exchanges, as bitcoin and ether tumbled, triggering $1.5 billion in leveraged crypto bet liquidations. Standard Chartered expects additional pain for crypto markets following the breach. India's largest crypto exchange curbed futures trading in response to the Binance hack, demonstrating contagion effects across global platforms.

DeFi Protocol Response

Neutral

RUNE Price Change

+13%+13%
01
THORChain's RUNE token jumped 13% following news of Binance's $6.3 billion hack, as North Korean hackers previously used THORChain to move funds stolen from Bybit and Bitget, prompting calls for the protocol to intervene. The hackers split bitcoin holdings into multiple wallets, with $1.4 billion moved into 19 separate addresses designed to evade freezing mechanisms.

Crypto Stocks & Corporate Developments

Neutral

Strategy Credit Capacity

$30B

HOOD Share Price

$86-5.6%
01MSTR▼ -2.44%
Strategy Inc ($MSTR) Chair Michael Saylor said the company could expand its capital options without depending entirely on Bitcoin appreciation or issuing more shares, positioning the balance sheet as a potential source of major new financing. Saylor stated Strategy could create up to $30 billion in digital credit without new common-stock fundraising or further Bitcoin price gains, as the company plans additional BTC purchases. The company posted record operating profit even as CFO Andrew Kang resigned. Strategy common stock is down 44% over the past year.
02HOOD
Robinhood Markets ($HOOD) shares fell 5.6% to $86 despite strong revenue growth and record-breaking product launches, as the company missed on adjusted earnings per share. Management pointed to robust trading volumes across equities, options, and margin, alongside expansion of its Agentic Trading suite and crypto offerings as key business drivers.

Security & Infrastructure

Neutral
01
Trezor urged customers who bought devices from CryptoBilis since March to move their funds after a report of a suspected hardware implant, highlighting ongoing supply-chain security concerns in the crypto custody sector. XRP Ledger developers tightened rules for who can hold restricted tokens, implementing new governance measures for token distribution controls.

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