Binance hack fallout and big transfers add to crypto stress
Traders link the slide to a recent Binance hack, with reports of over $4B in liquidations on the exchange and a large Solana treasury company moving $123M of SOL to Coinbase Prime. Details are unconfirmed.
Not yet known
- Whether over $4B was liquidated on Binance in a day
- Whether those liquidations cover more than half the hole left by the hack
- Whether the 1.78M SOL moved to Coinbase Prime is a sale or a custody change
- Whether the market slide is linked to the Binance hack
What we know
A post claims over $4B was liquidated on Binance in a day, enough to cover more than half of the hole left by the recent hack (unconfirmed). An analyst notes BTC is down 19% since the hack and compares it with FTX in 2022. Whale alerts show Solana treasury firm Forward Industries moved 1.78M SOL ($123M) to Coinbase Prime, though it is unclear whether this is a sale or a custody change.
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“OVER $4B IN LIQUIDATIONS ON BINANCE IN THE LAST DAY”
View post →“Forward Industries ... transferred 1.78M $SOL ($123M) ... to Coinbase Prime”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.