Binance Hack Rumor Sinks Crypto Market, Wipes Out Longs

Claims of a Binance wallet drain spread on social media, but no hack has been confirmed. Long positions took almost all of the forced liquidations, most of them within a single hour. BNB fell harder than any other top-ten coin, pointing to fear about the exchange itself. Hyperliquid stood out as the one large asset where short sellers carried the losses. The crypto market extended its slide late on Thursday, October 29, after Etherscan data flagged roughly $2.77 billion leaving Binance wallets across five blockchains and posts on X started describing the movement as a possible hack of the world’s…