Crypto prices fell sharply Thursday after reports tied to Binance-linked wallets stirred fresh security concerns across the market. Bitcoin and Ether both moved lower, while BNB posted the steepest decline among the major assets mentioned in the report. According to Blockaid, roughly $3.3 billion in suspicious transfers were identified, and Arkham Intelligence tracked about $5.84 billion in assets held by wallets labeled "binance-hacker-1029." Neither figure, however, was described as a confirmed theft amount.
At the time of writing, CoinGecko data showed BNB trading near $702, down 7.2% over 24 hours. Bitcoin fell 3.1% to around $78,674, and Ether dropped 4% to about $2,263. The broader crypto market also weakened, with total market capitalization down 3.3% to roughly $2.73 trillion, even as 24-hour trading volume climbed nearly 29% to $89.4 billion.
Binance said it was investigating a potential security issue and stated that user funds were "completely safe." Stablecoin issuers Tether and Circle separately said they had frozen more than $2.3 billion in stablecoins linked to the incident.
Crypto markets sold off Thursday after reports of suspicious transfers involving Binance-linked wallets triggered fresh concern over a possible multibillion-dollar security incident. BNB fell more than 7%, while Bitcoin and Ether also moved lower as the broader market dropped 3.3%.
The decline came alongside reports of unusual wallet activity tied to Binance. Blockchain security firm Blockaid said it had identified about $3.3 billion in suspicious transfers. Arkham Intelligence, meanwhile, tracked roughly $5.84 billion in assets held by wallets labeled "binance-hacker-1029." Neither number represents a confirmed theft amount.
CoinGecko data at the time of writing showed BNB, the native token of BNB Chain, trading near $702, down 7.2% over 24 hours. Bitcoin was down 3.1% at about $78,674, while Ether fell 4% to around $2,263.
Across the wider market, total cryptocurrency market capitalization fell to about $2.73 trillion, a 3.3% decline. Trading activity rose at the same time, with 24-hour volume up nearly 29% to $89.4 billion.
Binance said it was investigating a potential security issue and added that user funds were "completely safe." Tether and Circle said they had frozen more than $2.3 billion in stablecoins associated with the incident.
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