Source time Edition date
MarketsDecrypt
Binance Hack: Why Bitcoin Didn't Crash Like It Did in 2018
币安遭黑客攻击：为何比特币没有像2018年那样暴跌
Worth reading to see why Binance's $6.4 billion loss moved Bitcoin far less than the 2018 exchange hack did, a gap that tests whether market depth or luck explains the calm.
Judgment
Fund risk managers deciding whether to add crypto after Binance's hack should not treat the calm as proof of depth: Bitcoin still fell about 3% and dipped to about $76,400, so increasing exposure now costs downside protection if the muted move was luck.
Basis
Decrypt's Jose Antonio Lanz reports Binance lost about $6.4 billion in the largest crypto hack on record. Bitcoin fell about 3%, versus nearly 11% when the exchange was last attacked in 2018, and dipped to about $76,400 on Friday, roughly 6% below its post-Fed level. The comparison sets the tradeoff: the smaller drawdown looks like absorption capacity, but the source leaves the cause unresolved.
- Bitcoin fall after hackabout 3%
- 2018 hack fallnearly 11%
- Binance hack loss$6.4 billion
- Bitcoin Friday dipabout $76,400
Unclear The source does not provide order-book depth, withdrawal volumes, or stablecoin flows to distinguish market depth from luck.
Next Check whether Bitcoin holds above the about $76,400 Friday low as post-hack trading continues.