TLDR
- Binance reported a security breach affecting about $6.3 billion in assets, and suspended deposits and withdrawals.
- More than $1.5 billion in leveraged crypto bets were forcibly closed in 24 hours, per CoinGlass.
- Long positions made up about 84% of the liquidations, and Binance handled nearly half the total.
- Bitcoin dipped to about $76,460 before recovering toward $78,500, and ether traded near $2,240.
- Tether and Circle froze a combined $2.4 billion in stablecoins tied to the incident.
Crypto traders faced $1.53 billion in forced liquidations over 24 hours after a security breach at Binance. The data comes from CoinGlass and covers the period to Friday morning in Asia.
BREAKING: Bitcoin crashes below $77,000 following one of the largest hack in financial recorded history.
Estimated losses reach $5.6 BILLION, nearly 3.9% of Binance's entire $144 Billion in assets under custody.
Binance says $3 Billion worth of stolen crypto has been frozen so… pic.twitter.com/bQQMB4CAk9
— Bull Theory (@BullTheoryio) October 30, 2026
Bets on rising prices, known as longs, made up about $1.29 billion of the total. That is 83.8% of all liquidations.
Binance said the breach affected about $6.3 billion in assets. The exchange has pledged to cover losses and suspended deposits and withdrawals while it runs security checks.
Changpeng Zhao, the former CEO of Binance, was among the first to report a possible hack of the exchange’s hot wallet. The suspected breach touched wallets on the Bitcoin, Ethereum and Tron networks.
Reports said about $1.45 billion in bitcoin and $875 million in ether were at risk. If confirmed, it could be the biggest crypto hack in history.
Binance said it froze $3 billion in crypto assets with help from stablecoin issuers Tether and Circle. Tether CEO Paolo Ardoino and Circle co-founder Jeremy Allaire said they froze $1.567 billion in USDT and $800 million in USDC.
Binance says user funds are safe. It says its teams are working with law enforcement, issuers and blockchain intelligence firms to trace and freeze more assets.
How the Liquidations Unfolded
Leveraged traders put up only a fraction of a position’s value as collateral. When prices move far enough against them, the exchange closes the trade automatically. Closing longs creates sell orders, which adds pressure to falling prices.
Bitcoin positions accounted for about $499 million in liquidations. Ether followed with $358 million. Solana saw $82.6 million, XRP $38.1 million and dogecoin $18.6 million.
Binance recorded $754.6 million in forced closures, or 49.2% of the total. About $670.6 million of that came from longs. Hyperliquid had $251.4 million and Bybit had $186.5 million.
The largest single liquidation tracked by CoinGlass was an $11 million bitcoin long on Binance. Most of the losses came in the latest 12 hours, which saw about $1.37 billion in liquidations.
Bitcoin fell as low as about $76,460 and then recovered toward $78,500. Ether dipped below $2,200 before trading near $2,240. Bitcoin had fallen 4% on Thursday and is heading for a monthly loss of about 8%.
Technical data showed bitcoin near its 200-day moving average of $76,457. Analysts cited support at $75,545, with $70,000 as the next level below that.
The rebound has begun to hurt traders betting on further declines. Shorts made up $57.3 million of the $85 million liquidated in the latest four hours. In the latest hour, shorts were $20.6 million of $21.6 million, about 95%.
