Bitcoin slides to six-week low as Binance security probe rattles crypto market

Bitcoin fell to a six-week low of $77,646 and ether reached a two-month low after Binance disclosed a potential security issue and said more than $2.5 billion in assets had been frozen. Binance said it was investigating and that user funds were safe, while the extent of any loss had not been established.

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Oct 30, 2026 - 09:43

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Bitcoin logo. Source: Logos-World.net.

Bitcoin fell to a six-week low on Friday after Binance reported a potential security issue and said more than $2.5 billion in digital assets had been frozen, adding fresh pressure to a cryptocurrency market already focused on the exchange’s investigation.

Bitcoin and ether hit fresh lows

Bitcoin dropped to $77,646, its lowest level in six weeks, while ether fell to $2,238.76, a two-month low, according to market aggregator CoinGecko figures cited by Reuters. The moves reflected a broad market reaction rather than a confirmed finding that Binance customer assets had been stolen.

BNB, the token originally launched as Binance Coin and used in part to pay fees on the exchange, was down more than 8% over the previous 24 hours at $694, Reuters reported.

Binance says investigation is under way

Binance said its teams were reviewing relevant information urgently and that user funds were safe. The exchange had not explicitly confirmed that funds were pilfered, according to an Associated Press report carried by WTOP, which said the extent of any damage remained unclear.

Binance later said the verified total of frozen funds was $2.54 billion, while cautioning that the figure could rise as teams worked with law enforcement, issuers, blockchain-intelligence firms and other industry participants. The exchange also said deposits and withdrawals were temporarily suspended while it carried out security checks and traced assets.

Market reaction remains separate from proof of loss

The disclosures prompted stablecoin issuers to freeze funds linked to what they described as a potential exploit. Reuters reported that Tether and Circle had frozen more than $2.38 billion, but those freezes do not by themselves establish how much, if any, cryptocurrency was taken from Binance.

Former Binance chief executive Changpeng Zhao said on social media that the incident “looked like a hack,” while noting that he no longer managed the company. Binance.US, a separate exchange, said it was not affected, Reuters reported.