Bitcoin dropped below $77,000 for the first time in over a month, declining as much as 3.1% to $76,300 following a record security breach at Binance Holdings.
Attackers attempted to siphon off over $6 billion in the largest crypto theft on record, prompting Binance to reserve $6.34 billion of company funds to cover potential losses.
Stablecoin issuers Tether and Circle froze more than $2.3 billion in missing currency following the exploit, while the FBI and Secret Service launched investigations.