Binance Is on the Hunt for the Hacker(s) Who Stole $570 Million in Cryptocurrency

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Binance is on the verge of apprehending the hacker(s) responsible for the theft of $570 million in Binance tokens from the BSC Token Hub. In an interview about the event, Binance CEO Changpeng Zhao stated that they now have information from law enforcement authorities that may aid in locating the hacker(s).

Recent studies by Chainalysis revealed that in 2022, mostly $2 billion worth of cryptocurrency was whipped during 13 attacks on cross-chain bridges. However, Binance was able to protect about 80% to 90% of the targeted funds by freezing 80% to 90% of them on their blockchain.

Key Binance Coin Levels to Watch — October 25

Binance coin has continued to range since the last bullish phase in August. The market has been running along the supply level at $299.00, having hit the price level thrice. There appears to be a balanced fight between buyers and sellers after buyers made headway between June and August.

Binance Is on the Hunt for the Hacker(s) Who Stole $570 Million in Cryptocurrency

The market has currently risen by 49% from its recent low, but the BNB market remains in consolidation. The Relative Strength Index indicator shows that the market has remained within its average price, lacking enough volatility. The market last reached an overbought extreme in the middle of August and has since remained within the indicator’s average marks.

However, the Super-trend indicator maintains that the market remains in a bearish trend. Ever since the price fell, after hitting the $299 key level, the indicator has highlighted the market motion as bearish. It is expected that the market will continue in this direction until it finds a suitable support level for a rebound.

Binance Key Levels

Resistance Levels: $299.00, $335.00, $452.00
Support Levels: $186.00, $215.00, $396.00

Total Market Capitalization: $931.0B
Binance Coin Market Capitalization: $43.8B
Binance Volume: 563.4M
Market Rank: #5

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.