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The $6.3 billion Binance hack paradox: Centralization made the hack possible, but also saved $3 billion
★ Top Story

The $6.3 billion Binance hack paradox: Centralization made the hack possible, but also saved $3 billion

The Binance hack has revived debates about whether decentralization is the digital asset industry’s greatest security advantage or its biggest point of weakness.

www.coindesk.com ·46m ago
Latest

Latest News

Bitcoin

Bitcoin stolen from Binance tops Tesla’s holdings and is over twice El Salvador’s reserve

The 18,270 BTC haul is worth about $1.4 billion and comes within 442 coins of SpaceX’s disclosed holdings. Blockchain investigators link the attack to North Korea.

www.coindesk.com7h ago
Technology

OpenAI reportedly cuts fundraising and valuation targets amid AI jitters

Anxiety about the AI boom has sent the Nasdaq 100 slumping by about 10% in just three weeks since hitting a record high on October 6, including a 4.5% drop on Friday.

www.coindesk.com11h ago
Markets

Binance hackers raced to move billions before it could be frozen

Attackers raced to convert stolen stablecoins into crypto that issuers could not freeze as industry players like Tether and Circle moved to immobilize billions of dollars in assets…

cointelegraph.com14h ago
Regulation

Inside the largest crypto hack on record: How attackers breached Binance for $6.3 billion

Investigators tie the $6B Binance hack to North Korea. Here's how hot-wallet signing infrastructure was compromised and where funds went.

www.theblock.co15h ago
Regulation

Binance Hack Shows Why Offshore Exchanges Need US Oversight, CFTC Chair Says

Michael Selig said the record $6.4 billion theft shows why offshore exchanges should register with the CFTC and adopt U.S.-grade cybersecurity standards.

decrypt.co15h ago
Regulation

President Trump says they’re looking into Binance hack as calls grow for crypto rules

Following the $6.3 billion hack of the world's largest crypto exchange, Binance, calls are growing for legislation.

www.theblock.co15h ago
Technology

Intel Stock Suffers Worst Crash in 50 Years as Weak Forecast Overshadows AI Chip Demand

Intel beat third-quarter earnings expectations, but warned of a prolonged PC slump, sending shares to their worst daily decline in 50 years.

decrypt.co15h ago
Bitcoin

Worried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms

Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say the record $6.4 billion theft is a Binance security failure, not a crypto-wide threat, pointing clients toward proxies…

decrypt.co16h ago
Technology

Experts divided over Binance hack asset freezes, warn recovery is another matter

Tether, Circle and others moved within hours to block billions in stolen crypto, but legal experts question whether smaller victims would get the same protection.

www.coindesk.com16h ago
Technology

Reddit Stock Plunges 30% as Google's AI Search Hits Traffic and User Growth

Reddit shares are down 44% this week after CEO Steve Huffman warned that Google's AI-powered search features are cutting referrals, while weaker user growth and disappointing fourt…

decrypt.co17h ago
Markets

Tether’s excess reserves nearly double to $8B as Q3 profit hits $1.5B

The stablecoin issuer’s US Treasury holdings are comparable to those of major foreign holders, while its Bitcoin reserves were valued at $8.37 billion at the end of September.

cointelegraph.com17h ago
Bitcoin

Binance Hack: Why Bitcoin Didn't Crash Like It Did in 2018

Binance lost about $6.4 billion, the largest crypto hack on record, yet Bitcoin fell about 3%, against nearly 11% in 2018 when the exchange was last attacked.

decrypt.co18h ago
Regulation

$8 Million Crypto Kidnapping Lands Texas Brothers 15-Year Prison Terms

Raymond and Isiah Garcia held a Minnesota family at gunpoint for more than nine hours, forcing the father to transfer over $8 million in crypto, in one of the clearest “wrench atta…

decrypt.co18h ago
Regulation

Secret Service, FBI Join Binance Hack Probe as Circle Freezes $823 Million

Binance says it has set aside $6.34 billion to cover losses from the breach and the FBI and Secret Service are now working with the exchange as investigators trace the stolen funds…

decrypt.co18h ago
Technology

Coinbase leads crypto stock selloff following $6.3B Binance hack

Circle, Strategy and other crypto-linked stocks fell sharply Friday, a day after Binance disclosed a $6.3 billion security breach.

cointelegraph.com18h ago
Bitcoin

Crypto Biz: Bitcoin’s quantum threat is becoming an economic problem

Bitcoin faces mounting quantum security concerns as Ripple secures a US banking charter, USDC gains ground in Europe and VanEck adds BTC to a new ETF.

cointelegraph.com19h ago
Technology

Recap: How Binance’s record $6.3B hack unfolded

A recap of Cointelegraph’s live coverage of the Binance hack, including early breach reports and the exchange’s full reimbursement pledge.

cointelegraph.com19h ago
Technology

As it happened: Binance’s record $6.3B crypto hack

How Binance’s $6.3 billion hack unfolded, from the first onchain alerts to $3 billion in frozen funds and a widening security investigation.

cointelegraph.com19h ago
Technology

Binance Sets Aside $6.34B to Cover Hack Losses, CEO Says 'Your Assets Are Safe'

Richard Teng said the attacker used a self-destruct mechanism and an EIP-7702 delegation that bypassed Binance's normal approval controls.

decrypt.co20h ago
Technology

Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart

CEO Richard Teng said hackers erased evidence and bypassed security checks. Binance plans to publish its proof of reserves Monday.

www.coindesk.com20h ago
Regulation

Texas brothers sentenced to 15 years for holding Minnesota family at gunpoint in $8 million crypto heist

Two brothers who held a family for nine hours at gunpoint in Minnesota for $8 million worth of cryptocurrency were sentenced on Friday.

www.theblock.co20h ago
Technology

Elon Musk, CZ Trade Blows Over SpaceX Shares After $6.4B Binance Hack

After Musk appeared to mock Binance’s $6.3 billion hack, CZ reminded him that the exchange’s $500 million bet on his Twitter takeover is now worth over $1 billion in SpaceX shares.

decrypt.co20h ago
Bitcoin

Bitcoin risks worst October in 12 years as tech sell-off spreads to gold

Bitcoin circled $77,000 as crypto markets navigated US stock-market downside, while the gold price fell to its lowest in a year.

cointelegraph.com20h ago
Bitcoin

Strategy’s preferred-stock fix sets up renewed bitcoin buying, analysts say

Strategy fell after Q3 earnings, but StoneX & TD Cowen kept buy ratings, citing $4.83B cash reserve and more stable STRC preferred structure.

www.theblock.co22h ago
Ethereum

What is EIP-7702? The Ethereum Upgrade Behind the $6.4B Binance Hack

EIP-7702 lets ordinary Ethereum wallets run smart contract code, enabling batched and sponsored transactions. Here's how it works.

decrypt.co22h ago
Technology

Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack

Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say the $6.3 billion Binance hack is unlikely to derail the crypto market's recovery.

www.coindesk.com22h ago
Technology

Here’s what happened in crypto today

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.

cointelegraph.com22h ago
Bitcoin

Will gold’s ‘infinite mint bug’ make Bitcoin more valuable?

A US fusion startup says it has turned mercury into gold. Could a potential increase in the gold supply strengthen Bitcoin’s claim to be a better form of digital gold?

cointelegraph.com23h ago
Regulation

Binance says it has $6.34 billion ready to cover hack losses

Binance has allocated $6.34 billion to cover hack losses, while industry partners have frozen another $3 billion in affected assets.

www.theblock.co23h ago
Technology

FBI and Secret Service join response to Binance’s $6.3B hack

US agencies are investigating the theft and helping trace stolen assets, while Binance says about $3 billion has been frozen.

cointelegraph.com23h ago
Regulation

Israel Extradites Alleged Nomad Bridge Exploiter to US Over $2.8M Theft: Report

Israel's Supreme Court ruled that exploiting a coding flaw can count as computer intrusion, even when the software allowed the transaction.

decrypt.co23h ago
Technology

Binance says it holds $5B in matching tokens to cover hack losses

The exchange said it set aside more than $6.34 billion to cover losses and would include the assets in its next proof-of-reserves report.

cointelegraph.com1d ago
Technology

Morning Minute: Binance’s $6.4B Hack Overshadows Hyperliquid’s Biggest Day

Just as Hyperliquid opened the door to a fully regulated perps offering inside the U.S., Binance suffered the biggest hack in crypto history.

decrypt.co1d ago
Technology

TRM and Chainalysis Tie $6.4B Binance Hack to North Korea's TraderTraitor

Both firms blame the group behind the Bybit hack, as Binance says it has set aside $6.34 billion of its own funds to cover user losses.

decrypt.co1d ago
Technology

Binance arranges $6.34 billion to cover losses from record crypto hack

Binance said it reserved its own funds to cover the $6.3 billion hack, including freezes of roughly $3 billion in stolen assets.

www.coindesk.com1d ago
Bitcoin

Here's how big bitcoin traders responded after the Binance hack hit

Your day-ahead look for Oct. 30, 2026

www.coindesk.com1d ago
Markets

Zcash grants group offers $124M compromise as governance backlash grows

Zcash Community Grants proposed redirecting about $124 million in existing and future funding toward mining rewards, but critics say the plan fails to address governance and accoun…

cointelegraph.com1d ago
Ethereum

Here’s how an Ethereum upgrade helped drain part of Binance’s $6 billion loss

On Ethereum, the attacker used a 2025 upgrade built to make ordinary wallets smarter, armed with 50 signatures from Binance's own wallet.

www.coindesk.com1d ago
Bitcoin

Bitcoin price metrics hint at rebound as $1.6B liquidations follow Binance hack

Bitcoin held above $76,000 after a $6.3 billion Binance hack and a tech-stock sell-off, as momentum indicators pointed to a possible rebound.

cointelegraph.com1d ago
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