Morning Minute: Binance’s $6.4B Hack Overshadows Hyperliquid’s Biggest Day

What happened: An attacker stole about $6.4 billion from Binance across three blockchains, the largest crypto theft on record. Binance paused withdrawals on multiple networks and reserved over $6.34B in company funds to cover losses. Key numbers: About $3.5B in ETH, $1.4B in BTC and $630M on Tron were taken. Why it matters: ZachXBT linked the funds to the $388M Bitget exploit and a North Korean group. The newsletter frames Hyperliquid as a likely winner versus less trusted CEXs, while warning the wider market could be dragged down by exploit fears.

An attacker stole about $6.4 billion from Binance across three blockchains, the largest crypto theft on record. Binance paused withdrawals on multiple networks and reserved over $6.34B in company funds to cover losses.

ZachXBT linked the funds to the $388M Bitget exploit and a North Korean group. The newsletter frames Hyperliquid as a likely winner versus less trusted CEXs, while warning the wider market could be dragged down by exploit fears.