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

GM!

Today’s top news:

• Crypto majors rebound fall 1-2% alongside stocks; BTC at $77.5k
• Binance hacked for $6.4B by NK, roughly half frozen; Binance to cover losses out of SAFU fund
• AAVE forced to freeze v3 and v4 markets on Ethereum after attacker used them
• Polymarket paused trading after front-end extension hacked, leading to user losses
• HYPE soars after NYSE partnership, Druckenmiller and Elon touts

$81.8k$80.1k$78.5k$76.8k

24h HighHigh$81,840

24h LowLow$76,443

VolVol$2.7B

Binance’s $6.3 Billion Hack Overshadows Hyperliquid’s Biggest Day

Someone stole about $6.4 billion from Binance. That is, by a wide margin, the biggest crypto theft that has ever happened, four times the $1.5 billion taken from Bybit in February 2025.

The money left across three different blockchains: roughly $3.5 billion in ETH, $1.4 billion in BTC, and $630 million on Tron (final accounting still underway).

Luckily, stablecoin issuers can freeze their own tokens; it’s a kill switch built into USDT and USDC. Tether and Circle used it, locking up about $2.39 billion between them. That’s 43% of the haul. That leaves somewhere between $2.6 and $3.2 billion still out there.

Aave also stepped in, freezing its V3 and V4 markets on Ethereum. That’s precautionary, given the worry is an attacker using stolen money to borrow against and leave the protocol holding bad debt.