How a Binance Hack Rippled Through Crypto and Stock Markets

Binance, the world's largest cryptocurrency exchange, reported a major hack on October 30, affecting $6.3 billion in assets, sending shockwaves through both crypto markets and related stocks. Bitcoin, Ethereum, and Solana each fell over 4%, while Binance's BNB token dropped 6.5%. Crypto-related stocks plunged further, with Coinbase and Galaxy Digital down 12%. Binance pledged full compensation, and over $3 billion in assets were frozen on-chain. The incident is considered the largest theft in crypto history, surpassing a $1.5 billion Bybit hack in February 2025. Security experts warn that AI-driven cyber threats are becoming more sophisticated, making similar large-scale attacks increasingly likely.