Binance has suffered more than $6 billion in losses in what has been described as the biggest hack in cryptocurrency history, according to CoinDesk. The incident has unsettled digital-asset markets, with bitcoin reported to have fallen back to about $77,000 as traders reacted to the news.
Binance promises to absorb losses
Binance co-CEO Richard Teng said the exchange would cover all losses linked to the breach. The report did not provide further details about how the attack occurred, which assets were affected or how many customers may have been impacted.
The scale of the reported loss makes the event significant for the wider crypto market. Binance is a major cryptocurrency exchange, a platform where users can buy, sell and hold digital assets. A large security incident at such a venue can intensify concerns about the safety of funds held on exchanges and put pressure on prices as investors reassess risk.
Crypto prices react
The reported market response has included a decline in bitcoin, which fell back to roughly $77,000 after the news. The source material did not give equivalent price moves for other major cryptocurrencies or say how long the sell-off lasted.
The loss figure and the market reaction should be viewed separately: the reported $6 billion-plus amount relates to the hack, while bitcoin’s move reflects trading across the broader digital-asset market.
Moneyiar market picture
Moneyiar data available for October 25, 2026, at 22:39 local time showed bitcoin at $80,430.51, down 0.08% over 24 hours and 1.32% over seven days. Because this snapshot predates the October 29 report, it does not measure the market’s response to the hack.
The same Moneyiar data placed BNB, Binance’s associated token, at $740.86, up 0.81% over 24 hours and 3.32% over seven days. Other listed assets were WOULD at $0.03514, up 0.33% over 24 hours and 10.60% over seven days, and Billions Network (BILL) at $0.01400, down 0.59% over 24 hours and up 10.04% over seven days.
