Bitcoin Price Falls Below $80K After $6.3B Binance Hack
Summary
Bitcoin fell about 2% to $78,420 amid a reported $6.3 billion Binance security breach and $1.54 billion in crypto liquidations over 24 hours, mostly affecting leveraged long positions. Binance said it had helped freeze roughly $3 billion in assets and would cover losses with its SAFU fund and company resources. Its preliminary investigation points to a compromised engineer’s laptop, with no evidence so far that wallet private keys were leaked. US spot Bitcoin ETFs recorded $17.07 million in net inflows on October 29, offering a mixed signal as BTC remained below $80,000.
