Why Is BNB Price Falling? Binance’s $6.3B Security Incident Triggers Sell-Off

BNB price dropped more than 8% in 24 hours, falling toward $694 amid a sharp market sell-off. Binance estimates the security incident's total impact at approximately $6.3 billion, with around $3 billion frozen so far. The exchange says it will cover all losses and has found no evidence of a wallet private-key leak. BNB price came under heavy selling pressure after a major security incident at Binance triggered fresh concerns about the world’s largest cryptocurrency exchange. BNB token fell more than 8% in 24 hours, sliding toward $694 as traders reduced exposure to Binance-linked assets.