Bitwise: Only half of the top 10 crypto hacks saw Bitcoin price end higher that month

Only five of the ten largest cryptocurrency hacks in history resulted in Bitcoin closing the month with gains, according to Bitwise chief investment officer Matt Hougan. He analyzed Bitcoin’s 30-day performance following each of these high-profile cyber-thefts and noted that the market’s reaction remains unpredictable. On October 29, Binance, one of the world’s largest cryptocurrency exchanges, suffered a cyberattack resulting in losses valued at $6.3 billion. This incident eclipsed previous milestones, making it the largest digital asset theft to date, surpassing the former record by nearly fourfold.