Why Binance’s $6.3B Hack Hasn’t Triggered FTX-Style Panic
Dragonfly’s Haseeb Qureshi, Anthony Pompliano and CZ point to a calmer response than FTX, even as Bitcoin remains under pressure after the Binance hack.
Cryptocurrency news, market insight, company coverage, and practical guides related to bitcoin.
Dragonfly’s Haseeb Qureshi, Anthony Pompliano and CZ point to a calmer response than FTX, even as Bitcoin remains under pressure after the Binance hack.
Richard Teng targets a withdrawal restart within 40 hours of his address and a full reserve report by Monday as Binance rebuilds its infrastructure.
Binance says $5 billion is already held in the affected tokens as it buys remaining assets. The allocation excludes roughly $3 billion frozen.
Inside Binance’s $6.3 billion hack: the wallet-signing attack, frozen assets, withdrawal restart target and questions the final investigation must answer.
CoinDesk traced roughly 18,270 stolen BTC into 19 addresses, highlighting why Bitcoin recovery differs from issuer freezes of stolen stablecoins.
Binance estimates $6.3 billion in hack losses and $3 billion frozen, pledging full coverage as deposits operate normally and withdrawals remain paused.
TRM Labs attributes the $6.36 billion Binance theft to North Korea’s TraderTraitor with high confidence, as the exchange’s investigation continues.
Geoffrey Kendrick expects further crypto weakness after the Binance hack, while retaining a long-term bullish view on Uniswap.
Coinbase disclosed 17,954 BTC held for investment and 117 BTC for operations at September 30, worth about $1.51 billion combined at quarter-end.
An unverified breakdown alleges $5.613 billion stolen. Tether and Circle report over $2.3 billion frozen; Binance says user funds are safe.
Bitcoin trades near $81,000 after the Fed holds rates at 3.75%–4.00% in a 10–2 vote, with both dissenters favoring another quarter-point increase.
CryptoQuant says monthly Bitcoin buying outside Strategy fell 91%, while one company supplied 71% of growth in public-company holdings over 14 months.
Bitwise models Bitcoin at $1.6 million in its 2036 base case and $3.67 million in its bull case, with adoption assumptions and significant risks.
Grant Cardone proposes a $1 million-per-side bet that Bitcoin will reach $126,210.50 by October 2028, challenging Jason Calacanis’s bearish forecast.
Trenton Johnston, 20, received 25 months in a U.S. prison in a fake-support crypto case involving 185 stolen BTC and luxury spending.