Binance Hack: Why Bitcoin Didn't Crash Like It Did in 2018

What happened: Binance confirmed a hack that Chainalysis and TRM Labs put at roughly $6.4 billion, the largest crypto theft on record. Bitcoin dipped to about $76,400 on Friday and is down about 4% a day later. Key numbers: Theft about $6.4 billion, over four times the $1.5 billion Bybit heist Why it matters: In March 2018 a failed attack on Binance knocked nearly 11% off Bitcoin in minutes, while this time the price held relatively steady. The article attributes the calmer reaction to a larger market, ETF holders who do not keep coins on Binance, and quick action by stablecoin providers. Coverage: 6 outlets in 24h

Binance confirmed a hack that Chainalysis and TRM Labs put at roughly $6.4 billion, the largest crypto theft on record. Bitcoin dipped to about $76,400 on Friday and is down about 4% a day later.

In March 2018 a failed attack on Binance knocked nearly 11% off Bitcoin in minutes, while this time the price held relatively steady. The article attributes the calmer reaction to a larger market, ETF holders who do not keep coins on Binance, and quick action by stablecoin providers.