Bitcoin slides near $78,500 after Binance hack pressures market
Bitcoin fell to about $78,483 on Oct. 30, a 2% drop tied to a Binance security breach that froze roughly $3 billion and sparked $1.54 billion in trader liquidations.
Key points
- Bitcoin traded around $78,483, down 2% in 24 hours.
- A Binance security incident affected about $6.3 billion, with $3 billion frozen.
- Leveraged positions saw $1.54 billion liquidated, 239,000 traders affected.
- The breach is linked to a compromised DevOps engineer’s laptop.
- No private wallet keys were reported leaked.
Bitcoin (BTC) traded near USD 78,483 on October 30, slipping 2.0% in the past 24 hours, according to CoinGecko.
The price movement follows a reported Binance security incident that affected approximately USD 6.3 billion in cryptocurrency, with roughly USD 3 billion frozen through coordinated recovery efforts.
Leveraged crypto positions faced heavy liquidations, with about 239,000 traders liquidated for a total of USD 1.54 billion over 24 hours; bullish positions accounted for roughly USD 1.30 billion.
Earlier in the week, Bitcoin fell to a five‑week low of USD 76,301 as USD 1.49 billion in leveraged positions were liquidated.
Binance indicated the breach may have stemmed from a compromised DevOps engineer’s laptop, allowing unauthorized withdrawals, though no wallet private keys were reported leaked.
Your questions, answered
Why did Bitcoin drop near $78,500?
The decline followed a Binance security breach that froze billions and triggered massive liquidations of leveraged crypto positions.
How much was frozen after the Binance incident?
Approximately $3 billion was frozen through coordinated recovery efforts.
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