$6 billion Binance hack sends bitcoin, ether tumbling; Standard Chartered expects more pain
Source: CoinDesk ·
From the source
Bitcoin and ether slid after a suspected $6.3 billion Binance security breach and a Polymarket exploit. Standard Chartered says crypto prices may remain under pressure before finding a base. The crypto market is a sea of red amid renewed security concerns. Standard Chartered expects more near-term pain. Bitcoin BTC $78,037.23 has declined more than 3% over the past 24 hours to about $77,400 on Friday morning, having briefly dropped toward $76,000 a couple of hours ago. Ether ETH $2,232.04 , BNB BNB $716.22 , XRP (XRP) and solana (SOL) declined by slightly more. The sell-off hit leveraged futures traders particularly hard. Total market-wide liquidations stood at $1.5 billion at the time of writing, with long positions – bets that prices would rise – bearing most of the losses. Bitcoin accounted for $468 million in liquidations, followed by ether at $358 million. Binance said on Thursday that a security incident had affected roughly $6.3 billion worth of crypto assets, surpassing the…