# Binance's $6.3B hack drives $1.5B in crypto liquidations as BTC drops near $76K

Quick Take · News · Published October 30, 2026 · By [Anthony Asuaje](https://walkeranthony.com/about/), Walker Strategies
Canonical URL: https://walkeranthony.com/news/binance-s-6-3b-hack-drives-1-5b-in-crypto-liquidations-as-btc-drops-near-76k/

About $1.5B in leveraged crypto positions were wiped out in 24 hours after Binance disclosed a security breach affecting roughly $6.3B in assets. Bitcoin briefly fell to about $76,400, and bullish (long) bets made up around 84% of the forced closures. The episode shows how heavy leverage can sharply magnify a sudden shock.

Crypto markets sold off sharply after Binance said on Thursday that a security incident hit about $6.3B in crypto assets. That would make it larger than the roughly $1.5B Bybit hack of February 2025, the previous record. Blockchain researchers suspect North Korea's Lazarus Group.

CoinGlass data show total liquidations of about $1.54B over 24 hours, hitting roughly 237,000 traders. Long positions accounted for about $1.29B (83.8%), while shorts lost around $253M. Bitcoin led with nearly $500M in liquidations, followed by ether at about $358M, Solana at $83M and XRP at $38M. Most of the losses came within a 12-hour window.

Bitcoin slid to around $76,460 before recovering toward $78,500. Ether briefly fell below $2,200, Solana touched $98 and XRP dropped to $1.26. Binance alone accounted for nearly half of all liquidations.

On the damage control side, Binance said it froze about $3B with help from Tether and Circle, and Tether reported freezing more than $1.5B in USDT tied to the incident. However, the hacker split about $1.4B in bitcoin across 19 wallets that cannot be frozen.

What to watch: Standard Chartered expects more downside before prices find a floor. Traders are eyeing $76,300 as support and $80,000 as resistance. A partial rebound has already started to squeeze short sellers, and further news on recovered funds could swing sentiment either way.

Source: [coindesk.com](https://www.coindesk.com/markets/2026/10/30/usd6-billion-binance-hack-sends-bitcoin-ether-tumbling-standard-chartered-sees-more-losses-ahead)

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Educational and informational content only. I am not a licensed financial advisor and nothing here is investment advice. Do your own research before making any decision.