🩸 $5,700 MILLION STOLEN. WITHDRAWALS FROZEN.
$BTC CRASHES TO $77.2K. Here’s what’s happening on Binance right now.
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🔴 The attack
• The biggest crypto hack in history: over $5,700M drained from Binance (CoinDesk, Arkham).
• In the attacker’s wallet: ~$1,500M in BTC, ~$900M in ETH, and ~$1,400M in stablecoins.
• Binance suspended all withdrawals until the issue is resolved.
• BTC fell from ~$80.6K to $77.2K (−4.3%) in less than 5 hours, hitting a low near $76.7K.
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$ETH −4%,
$BNB −6.7%, $AAVE −8% (CoinDesk).
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🔴 The most serious part
The wallets that were drained were the ones Binance used as proof that customer balances were backed 1:1. According to CoinDesk, ETH backing may have fallen to ~94% until the funds are replenished.
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🧊 What’s stopping a disaster
• Tether, Circle, Ripple, and World Liberty have already frozen ~$2,617M.
• CZ and co-CEO Yi He: “User funds are safe,” and the losses will be covered.
• The SAFU fund holds ~$1,000M in BTC. That alone isn’t enough.
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⏳ The date that decides everything: November 1
The next reserves snapshot will show whether Binance has replenished what was stolen. Until then, they’re just promises.
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In the meantime: no leverage, no panic decisions, and watch out for “support” accounts messaging you privately. Today is scammers’ favorite day.
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What do you expect on Nov 1?
🟢 Binance replenishes everything
🔴 Backing is still lacking
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Analysis, not financial advice.
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#Binance #bitcoin #ProofOfReserves #BinanceHacks #BİNANCE