$6.3B Binance Hack Sends Ethereum to $2,200: Who's Selling?
The Biggest Crypto Heist Ever Just Sent Ethereum to $2,200 Co-produced by Daniel Aharonoff and DigitalDan As the chief editor of ethdan.me, I have covered exchange hacks, market crashes, and more "worst days ever" than I care to count. But Thursday, October 29, 2026, was different. In about 20 minutes, attackers drained an estimated $6.3 billion from Binance — the world's largest crypto exchange — in what is now the largest theft in the history of cryptocurrency. And Ethereum, already battered by a brutal October, took a direct hit: ETH slid from around $2,330 to as low as $2,177 before clawing back above $2,200 on Friday. So what's the big deal? This was not a small exchange in a faraway jurisdiction getting picked off. This was Binance. And the selling it triggered — more than $350 million in Ethereum futures liquidations in 24 hours, funding rates at their most bearish since early June, and US spot Ethereum ETFs posting a record monthly outflow of $1.45 billion...
