Binance’s $6.3 billion hack drives deposit surge at Bybit and Bitget
AI summary
Binance suffered a $6.3 billion hack, prompting a shutdown that pushed users to move funds toward rivals Bybit and Bitget, which saw larger deposit address counts during the outage. The data do not confirm that Binance customers migrated, but a breach of this size at the largest exchange raises counterparty-risk concerns. Traders will watch for withdrawal halts, reimbursement plans and any broader contagion across exchange tokens and BTC.
