Morning Minute: Binance’s $6.4B Hack Overshadows Hyperliquid’s Biggest Day
Binance suffered a massive $6.4 billion hack on Thursday, overshadowing what was shaping up to be Hyperliquid's biggest day as it announced a partnership with the New York Stock Exchange.
The hack marks the largest cryptocurrency theft in history, with approximately $6.4 billion stolen from Binance across three different blockchains. Roughly $3.5 billion was taken in ETH, $1.4 billion in BTC, and $630 million on Tron, with final accounting still underway. The incident occurred just as Hyperliquid was celebrating a major milestone with its partnership announcement.
Stablecoin issuers Tether and Circle quickly froze about $2.39 billion of the stolen funds using their built-in kill switches, accounting for 43% of the total haul. This left between $2.6 and $3.2 billion still at large. Aave also preemptively froze its V3 and V4 markets on Ethereum to prevent the attacker from using stolen funds to borrow against the protocol.
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