Crypto slides as Binance hacker launders funds and a French bank is revealed as a $133M victim
BTC swept $76K amid election risk-off and hack fallout. ZachXBT named Crédit Mutuel Arkéa as the $133M victim, and the Binance hacker is converting stolen SOL to BTC.
What we know
Skew says BTC swept $76K as shorts built. ZachXBT identified Crédit Mutuel Arkéa as the victim of the $133M+ theft. An account on X says the Binance hacker is swapping SOL → USDC → ETH → BTC via THORChain. CoinEx's founder called the Binance breach avoidable, and another account on X criticized CZ's comments. Another account on X went fully short with a bearish outlook, while SOL looks bid only on short covers.
How the story developed
BTC swept $76K amid election risk-off and hack fallout. ZachXBT named Crédit Mutuel Arkéa as the $133M victim, and the Binance hacker is converting stolen SOL to BTC.
Chatter about the Binance hack is spreading across feeds. Topics include freezing the hacker's Solana wallets, North Korea attribution, and TRX's resilience.
A retweeted post warns that Binance may be in an FTX-like situation, while Gate froze two accounts tied to an investigation.
Binance reopened withdrawals after a $6.3B hack and saw $4.54B in net outflows within 12 hours; one account claims this exceeds pre-collapse FTX outflows. Traders are split on whether the worst is over.
The FBI attributed the record $6.3B Binance hack to North Korea; Binance restored withdrawals and saw $3.5B in net outflows while BTC barely moved.
The FBI says North Korea is behind the $6B+ Binance theft. Binance says it has offset 90% of losses, and DPRK-linked funds are moving through THORChain and Relay Protocol.
Tweets say Binance halted withdrawals for days after a ~$6bn hole, and some traders are comparing it to the FTX collapse as a possible market bottom while others note the muted reaction.
Binance's own hot wallet was compromised for ~$6.3 billion; co-CEO Richard Teng confirmed customer funds were unaffected. The 'one laptop' explanation is being widely questioned by industry observers.
The Binance exchange suffered a ~$6B hack attributed to North Korea's Lazarus Group, featuring novel automated laundering patterns. Bitcoin's price was muted relative to historical hacks due to the smaller proportional size versus MT Gox.
Binance suffered what may be crypto's largest-ever exchange hack, attributed to North Korea's TraderTraitor group. CEO Richard Teng confirmed all user losses will be covered; withdrawals expected to resume in ~45 hours.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.