BUSINESS TIMES SG · 2026-10-30 03:46 UTC

Binance halts withdrawals as suspected hack spurs crypto sell-off, vows to 'cover all losses'

Binance suspended all deposits and withdrawals after a suspected security breach froze approximately $3 billion in assets, with the figure potentially increasing. Bitcoin fell below $77,000 to its lowest level since September, and the Nasdaq 100 dropped nearly 1.4% as the incident sparked a crypto sell-off. Binance vowed to cover all losses; co-founder CZ said user funds will be fully covered. Tether froze over $1.5 billion and Circle froze $800 million in stablecoins related to the suspected hack.

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