Bitcoin whipsaws below $79,000 as Binance hot wallet reportedly drained by Tornado Cash-linked wallet
AI summary
Bitcoin fell to an intraday low of $78,297 on Binance spot on Oct. 29 and was near $79,126 at press time as large transfers reportedly left Binance-labeled wallets, including a hot wallet linked to Tornado Cash. Binance said on X it was aware of reports of a potential security issue and that security teams were investigating. A possible exchange compromise is a major confidence shock for traders, who typically respond by de-risking and moving funds off the platform.
