FeesSafety
Pluang+

Binance hack aftermath: $6.3B stolen funds pose market risks, but Binance's financial strength may support Ethereum recovery.

31 Oct 2026, 22:00 WIB
AMBCrypto
View Source
Neutral
Binance hack aftermath: $6.3B stolen funds pose market risks, but Binance's financial strength may support Ethereum recovery.

Following the $6.3 billion Binance hack, stolen funds were partly frozen by Tether and Circle, but the attacker used Aave to borrow Ethereum against frozen USDT collateral, making recovery difficult. The large 420,000 ETH holding by the attacker could increase selling pressure, yet market impact has been limited so far. Binance plans to cover losses using its SAFU fund and company reserves, showing financial capacity to manage the crisis. Ethereum’s oversold status may attract buyers, potentially sparking a market recovery despite ongoing risks.

Ethereum trades at Rp40.871.538 on Pluang as of Nov 01, 2026 02:21 WIB, showing a 0.96% gain in 1 day. The market shows 62% buy activity and a typical hold time of 108 days. Despite the large 420K ETH supply overhang mentioned, Ethereum's market cap stands strong at Rp4.995,05 trillion with a 24-hour volume of Rp102,14 trillion.

More News (ETH)

Bitcoin holds up better than Ethereum, XRP, and BNB after Binance hack triggers crypto market volatility.

Bitcoin holds up better than Ethereum, XRP, and BNB after Binance hack triggers crypto market volatility.

Following the Binance hack, Bitcoin, Ethereum, XRP, and BNB all saw increased volatility with varying declines. Bitcoin showed resilience, dropping only 6.5% from its recent high and maintaining support around $76,000. BNB fell 14%, impacted by its B...

Technical Signals
Bearish
4 hours ago
Ethereum whales withdraw $29M amid bearish pressure, testing $2,200 support for potential rebound.

Ethereum whales withdraw $29M amid bearish pressure, testing $2,200 support for potential rebound.

Ethereum whales have withdrawn $29.09 million worth of ETH from exchanges, signaling accumulation despite the market's weakness. However, bearish sentiment remains strong as Ethereum trades below $2,300 and approaches a critical $2,200 support level,...

Market News
Neutral
8 hours ago
Ether (ETH) price dips below $2,250 on Binance spot market

Ether (ETH) price dips below $2,250 on Binance spot market

Ether (ETH), the second-largest cryptocurrency by market capitalization, fell below the $2,250 mark on the Binance spot market, reaching $2,248 at 9:13 a.m. ET on October 31. This small decline of about $5 from 15 minutes earlier reflects a minor 0.0...

Market News
Bearish
10 hours ago
Ethereum ETFs see $431M outflows amid $350M futures liquidations after Binance hack

Ethereum ETFs see $431M outflows amid $350M futures liquidations after Binance hack

Ethereum ETFs experienced $431 million in net outflows over five days ending October 30, reflecting weakening institutional demand despite attempts to defend the $2,200 price level. The selloff accelerated following a $6.3 billion Binance security br...

Market News
Bearish
11 hours ago
Ethereum spot ETFs see $155.85M outflows over 5 days, led by BlackRock's ETHA withdrawals.

Ethereum spot ETFs see $155.85M outflows over 5 days, led by BlackRock's ETHA withdrawals.

U.S. spot Ethereum ETFs experienced net outflows totaling $155.85 million on October 30, 2026, marking the fifth consecutive day of withdrawals. BlackRock's ETHA led with $76.64 million withdrawn, followed by Grayscale's ETH and ETHE funds. These out...

Bearish
18 hours ago
banner-footerbanner-footer

Invest & Trade with
#1 Award-Winning Investment Super App