Batten down the hatches, because trouble is here. Binance, the world’s largest crypto exchange, said on the evening of Oct. 29 that hackers had stolen about $6.3 billion from its coffers. That means it just experienced the biggest crypto hack in history, and perhaps even the biggest heist in history, period.
The market’s response has been predictably sour. Bitcoin (BTC -0.29%) lost 5.6% within 24 hours of the hack being announced, while BNB (BNB -1.51%), the native coin of the Binance-linked BNB Chain, fell 6.2%.
The damage to coin prices may not be over. So what comes next for the crypto market?
Image source: Getty Images.
2025 saw $3.4 billion in hack losses
In terms of the immediate market outlook, the direct losses from the hack…
