Top Story
Binance suspended deposits and withdrawals on 29 October after an estimated $6.3 billion was pulled from its wallets. Binance says the loss is the largest crypto hack on record. Its initial investigation points to a compromised DevOps engineer's laptop, which let an attacker submit unauthorized withdrawals from a service container.
The loss exceeds the $1.5 billion Bybit hack of 2025. Binance says industry partners have frozen about $3 billion of the affected assets on-chain. Other trackers report different totals: Blockaid cited about $3.3 billion in suspicious outflows, and ZachXBT put frozen funds above $2.83 billion.
Markets sold off. Bitcoin fell more than 3% to a six-week low of $76,368, and Ethereum hit a two-month low of $2,178, according to Reuters. BNB dropped 7.1%, per The Block. Crypto liquidations totaled $1.55 billion over 24 hours, and 246,482 traders were liquidated. Derivatives data shows $437.66M of BTC liquidations, with 82.1% from long positions. The Fear & Greed Index fell to 29, which is in the Fear zone.
Attribution is unconfirmed. Analysts cite TraderTraitor, a North Korean group, and TRM Labs links the incident to North Korean state-sponsored hackers. Binance co-founder Yi He pledged that user funds are safe and that the exchange will cover all losses. Institutional investors have begun pulling funds from exchanges.
Major Price Moves
Market Overview
Bitcoin leads the market by size, with a $1.58T market cap. It traded at $78,604.33, down 1.74% on $58.45B in 24-hour volume. Ethereum changed hands at $2,251.66, down 2.68% on $37.65B in volume.
Top 10 Gainers
| Coin (symbol + name) | Price | 24h % | 24h Volume | |
|---|---|---|---|---|
| SAFU Funds Are Safu | $0.002195 | 386.87% | $6.55M | |
| ROCK ROCK DAO | $0.0002718 | 88.34% | $5.49M | |
| PARTI Particle Network | $0.05363 | 38.99% | $180.73M | |
| PURR Purr | $0.1269 | 27.64% | $11.53M | |
| MAGMA Magma Finance | $0.3297 | 26.36% | $15.29M | |
| KNTQ Kinetiq | $0.5591 | 25.33% | $19.07M | |
| BLESS Bless | $0.01263 | 24.87% | $12.26M | |
| IDOL MEET48 | $0.01616 | 23.30% | $34.75M | |
| BEAM Beam | $0.004111 | 21.48% | $42.84M | |
| KHYPE Kinetiq Staked HYPE | $95.72 | 18.13% | $5.29M |
HYPE rose 18.10% to $93.28 on $3.71B in volume, the largest turnover among the day's movers. SAFU's 386.87% reading is not matched by other sources. Binance and CoinGecko pages showed gains of 7% to 32%. No verified catalyst was found for SAFU, and none was found for PARTI, which Binance Square said had no confirmed news trigger.
Top 10 Losers
| Coin (symbol + name) | Price | 24h % | 24h Volume | |
|---|---|---|---|---|
| WONE Wrapped One | $0.5711 | -100.00% | $48.45 | |
| CRV Curve DAO | $0.2760 | -17.46% | $155.52M | |
| BTW Bitway | $1.5042 | -15.59% | $11.21M | |
| CVX Convex Finance | $1.8851 | -14.15% | $24.31M | |
| PONS Pons | $0.2402 | -12.45% | $37.55M | |
| GRT The Graph | $0.0195 | -11.95% | $19.24M | |
| LDO Lido DAO | $0.3297 | -11.72% | $91.50M | |
| PYTH Pyth Network | $0.0619 | -11.68% | $73.81M | |
| TIA Celestia | $0.4598 | -10.87% | $82.16M | |
| AERO Aerodrome Finance | $0.6293 | -10.65% | $81.65M |
CRV's 17.46% decline is the largest drop among liquid large-cap tokens. On-chain trackers show the hacker wallet selling CRV, but no source confirms a Curve or Convex exploit. WONE's -100% reading rests on $48.45 in volume. Other price pages show a value near $0.57 with no change, so the figure is unverified.
Top 20 by Market Cap
| Rank | Coin (symbol + name) | Price | 24h % | 24h Volume | Market Cap | |
|---|---|---|---|---|---|---|
| 1 | BTC Bitcoin | $78,604.33 | -1.74% | $58.45B | $1.58T | |
| 2 | ETH Ethereum | $2,251.66 | -2.68% | $37.65B | $275.10B | |
| 3 | USDT Tether | $0.998733 | -0.02% | $94.14B | $180.29B | |
| 4 | BNB BNB | $715.89 | -5.15% | $3.08B | $94.15B | |
| 5 | XRP XRP | $1.267187 | -3.35% | $4.54B | $80.28B | |
| 6 | USDC USDC | $0.999342 | -0.01% | $23.04B | $71.26B | |
| 7 | SOL Solana | $98.218809 | -1.76% | $6.87B | $57.95B | |
| 8 | TRX TRON | $0.337535 | 1.30% | $2.38B | $32.07B | |
| 9 | HYPE Hyperliquid | $93.276799 | 18.10% | $3.71B | $22.33B | |
| 10 | STETH Lido Staked Ether | $2,246.52 | -2.72% | $97.41M | $21.78B | |
| 11 | ZEC Zcash | $1,275.92 | 1.38% | $5.49B | $21.70B | |
| 12 | DOGE Dogecoin | $0.076426 | -3.18% | $1.70B | $11.96B | |
| 13 | XMR Monero | $592.22 | 0.12% | $238.36M | $11.15B | |
| 14 | WSTETH Wrapped stETH | $2,804.01 | -2.68% | $145.54M | $10.41B | |
| 15 | USDS USDS | $0.997711 | -0.21% | $264.42M | $9.57B | |
| 16 | BSC-USD Binance Bridged USDT (BNB Smart Chain) | $0.998733 | -0.02% | $958.52M | $9.17B | |
| 17 | WBTC Wrapped Bitcoin | $78,399.43 | -1.71% | $1.23B | $9.10B | |
| 18 | WBT WhiteBIT Coin | $75.12 | -2.55% | $67.79M | $8.92B | |
| 19 | WBETH Wrapped Beacon ETH | $2,488.31 | -2.87% | $6.98M | $8.63B | |
| 20 | LINK Chainlink | $11.13 | -4.13% | $1.04B | $8.54B |
Other Key Events
HYPE rally tied to ICE and Trade[XYZ] deal
Intercontinental Exchange and Trade[XYZ] signed a definitive agreement on 29 October to bring Hyperliquid-based perpetual futures onshore in the United States. ICE will operate the regulated markets and build a new retail market and clearing structure. The deal requires regulatory approval, including from the CFTC, and no launch date has been set.
Stanley Druckenmiller posted on X on 29 October that he is "excited to be an investor in trade(xyz)." Elon Musk replied "Interesting." Neither company has said whether the US venue will pay anything to HYPE holders. HYPE's previous rally on US-access news faded within six weeks, per BeInCrypto.
Fed holds with two dissents favoring a hike
The Federal Reserve held rates steady on 28 October, with two dissenters seeking a hike. Chair Kevin Warsh declined to signal the December decision. Bitcoin dropped to about $80,000 that day, before the Binance news.
Polymarket halts, then resumes trading
Polymarket suspended trading on 29 October after a third-party provider was compromised. Hackers distributed crypto-draining JavaScript, and about $2.5 million was traced to a suspected attacker wallet. Polymarket said its core smart contracts were not compromised, and trading has resumed. Hudson Rock linked the breach to a compromised monitoring script, the second third-party script breach in four months.
In Brief
- Kalshi raised $1 billion at a $40 billion valuation, according to Reuters. Utah filed criminal charges against Kalshi and two executives on 29 October.
- US spot Bitcoin ETFs posted $2.42 million in net outflows on 29 October, ending a two-day inflow streak. Spot ether ETFs lost $21.11 million.
- Teku and Besu released emergency updates to fix a certificate vulnerability that could have redirected validator block rewards.
- The OCC issued a final rule on 21 October implementing the GENIUS Act for payment stablecoin issuers.
- Coinbase set an October 30 deadline for EEA users to withdraw restricted stablecoins.
What to Watch
- Binance withdrawals: Cointelegraph reports withdrawals could resume within 48 hours, or around 31 October. Binance has not confirmed this timeline.
- Bitcoin: Reclaiming $80,000 is the next test after the $76,368 six-week low.
- Ethereum: Holding above $2,200 keeps the price clear of the $2,178 two-month low.
- Hyperliquid: HYPE is trading at $93.28, and the $90 area is the first support to watch.
- USDC limits: Circle begins cutting legacy USDC app transfer limits on 31 October.