Hacking News
Binance suffers $6.3 billion hack, triggering $1.5 billion in liquidations
The cryptocurrency market saw heightened volatility after a reported $6.3 billion hack of Binance, which led to approximately $1.5 billion in liquidations. Altcoins experienced rapid price swings, with Quack AI (Q) spiking to $0.24 before falling back to about $0.06. Meme token PEPE rose 6% to $0.0000052, supported by increased holdings from TRON founder Justin Sun. Analysts noted that Binance's financial strength helped prevent a broader crisis and did not expect a cascade of bankruptcies or further losses.