Binance Hack Estimated at $6.3bn Weighs on Crypto as Bitcoin Slips to $78,407

The crypto market's attention is fixed on Binance after hackers drained the exchange's hot wallets across ten blockchains on Thursday night, in an attack estimated at $6.3bn and described as the largest crypto heist on record. Withdrawals have been frozen and investigators are pointing to North Korea. Binance says its SAFU reserve and company funds will cover all user losses. Chief executive Richard Teng has called the attack complex, and the exchange has identified further points of breach.

Markets at a glance

Bitcoin trades at $78,407 this morning, down 2.2% over 24 hours and 4.4% over the past week. Ethereum has fallen further, down 3.6% on the day and 7.0% on the week to $2,237.

BNB, the token most closely tied to Binance, posted the steepest daily decline among the largest assets, down 5.2% to $715.67, although its weekly loss of 3.0% is smaller than ether's. XRP is down 3.3% over 24 hours and 5.1% over seven days at $1.26.

The stablecoins Tether and USDC held at $1. The Crypto Fear & Greed Index stands at 30, in "Fear" territory.

The stories that mattered

The scale of the Binance breach sets it apart. According to our initial report, attackers emptied hot wallets on ten blockchains within minutes, prompting the exchange to suspend withdrawals as bitcoin slid. Investigators have linked the attack to North Korea, and Binance has pledged to make every user whole. $6.3 Billion Gone in Minutes: Binance Hit by the Biggest Crypto Heist in History

The investigation has since widened. Binance has found additional breach points, moving beyond an earlier theory centred on a compromised laptop. About $3bn of the stolen funds has been frozen, and Mr Teng has described the attack as complex. Binance finds further breach points in estimated $6.3bn hack

Separately, Ethereum client teams have released Teku 26.10.3 and Besu 26.10.2 to address risk linked to eMudhra certificates. The fixes target trust-store exposure arising from compromised certificate-authority keys rather than Ethereum's consensus rules, but node operators may also need to update separate Java runtimes. Ethereum teams release Teku 26.10.3 and Besu 26.10.2

In government security, the hacktivist group Distributed Denial of Secrets has published the "Icepick" directory, containing work details of 41,191 Department of Homeland Security employees and contractors. The group says the data came from DHS's Okta login system; Okta disputes that any compromise took place. Hacktivists leak work details of 41,191 Homeland Security employees and contractors

In technology, Google's Chrome browser is now using Gmail data to fill in order, tracking and flight details on web forms. The Gemini-powered enhanced autofill feature is rolling out in the US to Personal Intelligence users and adds to scrutiny of how Google handles inbox data. Google's Chrome now uses Gmail data to fill in forms

What to watch

• Whether Binance lifts its withdrawal freeze, and how quickly it draws on its SAFU reserve and company funds to cover user losses.
• Progress on recovering stolen assets beyond the roughly $3bn already frozen, and any further detail on the breach points and the suspected North Korean link.
• Uptake of the Teku and Besu updates among Ethereum node operators, including any required Java runtime changes.
• Further developments in the dispute between Distributed Denial of Secrets and Okta over the source of the DHS directory.