The global cryptocurrency market cap dropped 2.89% in the last 24 hours to $2.6 trillion, recorded during Friday’s U.S. market. Major cryptocurrencies, including Bitcoin, Ether, and XRP, are down 3%, and the broader crypto derivatives market faced over $1.5 billion in liquidations. The key catalyst that fueled this sell-off was a major security breach targeting the largest cryptocurrency exchange, Binance, impacting an estimated $6.3 billion in digital assets.
Binance hit by $6.3B security exploit linked to North Korea
The cryptocurrency market is experiencing a massive wave of panic-selling following the largest security exploit in crypto history targeting Binance. The exchange confirmed a catastrophic security breach affecting $6.3 billion in assets, which blockchain analytics firm TRM Labs has linked to North Korea’s elite “TraderTraitor” hacking unit. The panic, along with a wider tech sell-off, saw more than $1.6 billion in...
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