Binance hack shakes crypto markets as oil jumps on Middle East tensions

invezz.com (Dutch) —

Cryptocurrency markets and tech stocks fell Friday after a $6.3 billion hack of Binance reignited security concerns, while oil prices rose amid escalating Middle East tensions. Gold and other precious metals also dropped sharply as investors reassessed tech stock prospects and interest rates. Binance co-CEO Richard Teng said about $3 billion of stolen funds were frozen on-chain with blockchain partners, and the exchange pledged to cover customer losses via its Secure Asset Fund for Users. The breach was attributed to a compromised DevOps engineer's laptop. Coinbase shares fell over 10%, while Bitcoin dropped up to 4.8% to roughly $76,820. Brent crude closed 2.32% higher at $117.55 per barrel, the highest since late April, after a tanker was struck in the Strait of Hormuz. Intel shares plunged 28% after the chipmaker issued a weaker-than-expected Q4 revenue forecast of $15-$16 billion, below analyst estimates of $17.1 billion.


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