Binance security breach triggers $1.53 billion leveraged liquidations as BTC drops below $77,000

Bitcoin ’s price plunged below $77,000 on October 30 after a significant security breach at Binance unsettled the broader cryptocurrency market. This market turbulence forced approximately $1.53 billion in leveraged positions to be closed within a single day. Binance, the world’s largest cryptocurrency exchange by trading volume, confirmed that a security incident had occurred, impacting an estimated $6.3 billion worth of cryptocurrency assets. The exchange’s initial investigation suggested that attackers gained access through a compromised DevOps engineer’s laptop, enabling them to interact with a service container and execute unauthorized withdrawals.

Source: CoinTurk News