On October 29, 2026, Bitcoin traded below $77,000 and BNB was down 7.1% over 24 hours amid reports of a Binance security incident. The Block also reported substantial liquidations. These figures describe a specific market snapshot; they do not prove the incident was the sole cause of the broader decline.
In The Block's October 29 snapshot, Bitcoin was at $76,664 after a 4.5% 24-hour decline, while BNB was down 7.1%.
The Block reported that Bitcoin had slipped below $77,000 as several major crypto assets also declined. In the same snapshot, Ether was down 5.2% and XRP was down 7%. These are time-specific figures from the report, not current prices.
The move coincided with reports of a Binance security incident. That timing is relevant to understanding the market response, but it does not by itself establish what caused every part of the sell-off.
At the time of the reports, Binance said it was investigating a potential security issue; The Block reported that the exchange's co-CEO pledged to cover user losses.
The Associated Press described Binance as investigating a potential security issue and reported that the company’s founder said the event looked like a hack. The Block described an exploit and reported that co-CEO Yi He said Binance would cover user losses related to it.
Reports, preliminary estimates and confirmed technical findings are not the same thing. The sources reviewed here do not establish a definitive technical root cause, so a specific attack scenario should not be presented as proven.
The Block reported $1.55 billion in liquidations over 24 hours, including $1.34 billion in long positions.
Forced position closures can accompany sharp market moves and add pressure to prices. The liquidation total is a time-specific figure reported by The Block, citing CoinGlass, rather than a final tally for the entire period following the news.
For trading platforms, a practical takeaway is to review how margin monitoring, risk limits and alerts behave when liquidity or prices shift quickly. This is a general risk-management recommendation, not a claim about the precise mechanisms behind liquidations in this episode.
The episode underscores the value of security and market-risk readiness, but does not reveal a confirmed technical failure mode.
When a major security incident is reported, platform operators can use it as a prompt to review practical readiness in several areas:
This is a general review checklist, not a description of confirmed shortcomings at Binance. The sources do not specify which infrastructure changes the company will make after the incident.
The Block reported the move late on October 29, 2026. Its snapshot at about 10:00 p.m. ET put Bitcoin at $76,664.
The Block reported a 7.1% 24-hour decline in BNB in its October 29, 2026 market snapshot.
In the reports reviewed, Binance said it was investigating a potential security issue. Those reports do not establish a definitive technical root cause.
That is not established. The market decline coincided with reports of the incident, but the available data does not prove it was the sole cause of declines across crypto assets.