Bitcoin▼ Bearish● Important

Binance loses $5.7 billion in largest crypto hack; bitcoin slips to $79,000

TradingGain Newsroom·13h ago·29 Oct 2026, 21:12 UTC

Binance lost $5.7 billion in the largest crypto hack to date. Crypto prices are falling on the news, with bitcoin dropping back to $79,000. For traders, a loss this size may make the market more cautious and add pressure to prices.

Why it matters

Binance lost $5.7 billion, the largest crypto hack recorded so far.
Crypto prices are sliding after the news, with bitcoin down to $79,000.
A hack of this size can shake confidence in exchanges and the wider crypto market.

What to watch next

Watch whether bitcoin can hold the $79,000 level after this sell-off, and whether Binance shares more details on the hack.

This brief is written by TradingGain from public reporting by CoinDesk.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.