Binance Suffers Record $6.3 Billion Hack as Bitcoin Tumbles and Markets Reel

Bitcoin fell sharply on Friday after the worst security breach in cryptocurrency history hit Binance, the world's largest exchange by trading volume. The attack sent prices sliding and triggered cascading losses across leveraged positions, rattling confidence heading into a pivotal weekend monthly close.

Binance said the incident had an estimated impact of $6.3 billion, with around $3 billion in cryptocurrency assets frozen so far, and the exchange pledged to cover all losses from company funds. Bitcoin dropped 4% to roughly $77,465 on the news, with the Fear and Greed Index collapsing from 51 to 30 within a single day. Total crypto market capitalization fell 3.7% to $2.67 trillion, while trading volume nearly doubled to $130 billion as panic selling accelerated.

Strategy Posts Record Profit Even as CFO Departs

Separate from the market chaos, Strategy dominated corporate headlines after its chief financial officer resigned on the same day the firm reported a record $21 billion in quarterly operating income. The company holds 848,517 BTC on its balance sheet, making it the largest publicly traded corporate holder of Bitcoin in the world. Shares of MSTR stock fell 6% as investors weighed the leadership change against the blockbuster earnings result.

The liquidation toll from the broader selloff reached $1.57 billion in 24 hours, with long positions absorbing roughly 83.9% of total losses. Analysts at DailyCoin noted that traders are now eyeing $75,000 and $72,000 as the next key support targets if Bitcoin cannot reclaim the $78,400 resistance level. The monthly close on Saturday is expected to seal a 6.5% loss for October, which opened at $83,576.

Adding to the day's security concerns, hardware wallet maker Trezor warned customers who purchased devices through former reseller CryptoBilis to move their funds immediately after receiving a report of a suspected malicious hardware implant inside a Trezor Safe 5 unit. The disclosure, received by Trezor on October 28, concerns a wallet purchased on Tokopedia in August 2026, and the investigation is being conducted with assistance from SEAL 911, the Security Alliance's emergency response service. CryptoBilis had already been removed as an authorized Trezor reseller on October 9 after a related tampering incident was confirmed at rival hardware wallet maker Ledger.