Cryptocurrency markets fell sharply amid reports of suspicious transfers involving Binance-linked wallets and a potential hack. Blockaid identified about $3.3 billion in suspicious transfers, while Arkham Intelligence tracked roughly $5.84 billion in assets held by wallets labeled “binance-hacker-1029.” Neither figure is a confirmed theft amount.
BNB traded near $702, down 7.2% over 24 hours at the time of writing, while the total cryptocurrency market value fell 3.3% to about $2.73 trillion. Binance said it was investigating a potential security issue and that user funds were “completely safe.” Tether and Circle said they had frozen more than $2.3 billion in stablecoins associated with the incident.
