Binance Suffers Record $6.3B Hack as Google Stock Plunges 10%

The crypto market faced renewed uncertainty this week after Binance disclosed a major security breach involving approximately $6.3 billion in digital assets. The exchange suspended deposits and withdrawals while investigators worked to trace the stolen funds.

Meanwhile, Google's parent company Alphabet saw its shares plunge about 10% in after-hours trading after third-quarter earnings missed Wall Street expectations. Despite strong cloud growth, slowing advertising revenue and heavy AI spending weighed on investor sentiment.

Elsewhere, Bitcoin continued to struggle below $85,000 as weakening ETF inflows and subdued trading activity raised doubts about the strength of its recovery. Traders are watching key price levels for signs of the next major move.

1. Binance suffers record $6.3 billion hack

Binance disclosed a security breach on October 29 involving approximately $6.3 billion in digital assets, surpassing the $1.5 billion Bybit hack in 2025. The exchange said a compromised employee laptop enabled unauthorized withdrawals and temporarily suspended deposits and withdrawals while conducting security checks.

Stablecoin issuers and blockchain networks froze approximately $3 billion linked to the attack, while Binance pledged to cover user losses. Blockchain security firm TRM Labs attributed the breach to North Korea's TraderTraitor group, which was also linked to the Bybit exploit.

2. Google stock drops 10% after disappointing earnings

Alphabet shares fell approximately 10% in after-hours trading after the company reported third-quarter revenue of $127.58 billion, missing Wall Street's $128.2 billion estimate. Advertising growth slowed, while net income declined 25% year over year to $26.17 billion.

Bar chart showing top 10 incidents in Sep 2026.

Despite Google Cloud revenue doubling to $30.7 billion, investors remained concerned about the company's aggressive AI spending. Quarterly capital expenditures reached $51.4 billion, pushing free cash flow to negative $9.07 billion. Alphabet also warned that capital spending would increase significantly in 2027.

3. Bitcoin struggles below $85,000 as ETF demand weakens

Bitcoin remained near $80,000 this week as fading institutional demand limited its recovery. U.S. spot Bitcoin ETFs recorded just $67 million in net inflows over two weeks, while declining trading volumes and weaker spot demand suggested limited buying pressure.

Meanwhile, Bitcoin's one-month realized volatility fell to approximately 25%, a historically low level that could precede a larger price move. Glassnode identified $85,000 as key resistance, while $77,900 and $75,800 remain important downside levels. Stronger ETF inflows could help determine whether BTC can sustain a recovery.