Binance Resumes Withdrawals After Major Hack as Michael Van De Poppe Predicts Bitcoin Crash

Binance announced it had restored withdrawals after an October 29, 2026 hack compromised its hot wallet—an internet-connected crypto storage system—and led to the theft of $6.3 billion; the exchange froze $2.54 billion and suspended deposits and withdrawals that day. The FBI said North Korea was responsible. Binance said it restored 90% of the lost crypto assets using its own reserves, including its internal treasury, to cover customer losses, and re-enabled withdrawals for networks including Bitcoin, Ethereum, XRP, BSC, and Dogecoin. CryptoQuant data showed more than $4 billion had been withdrawn since resumption, while analyst Michael van de Poppe said Bitcoin could fall toward $74,000 amid outflows; Bitcoin traded at $77,789, with support at $76,200 and $76,800 being watched.