Crypto and Tech Stocks Plunge Following Record $6.3 Billion Binance Security Breach

Cryptocurrency assets and related equities tumbled after Binance disclosed a record $6.3 billion security breach attributed to North Korean hackers. The attack sparked approximately $1.57 billion in crypto liquidations, sending Bitcoin down 4% to $77,118. Tether, Circle, and partners froze around $3 billion in affected assets on-chain, including over $1.5 billion in USDT and $800 million in USDC. Crypto-exposed equities slid sharply alongside weak corporate updates, with Coinbase sinking over 13% after Q3 net revenue missed forecasts at $1.16 billion, while Strategy, Robinhood, and tech equities also posted heavy declines.