Bitcoin whipsaws below $79,000 as Binance hot wallet reportedly drained by Tornado Cash-linked wallet

Bitcoin reached an intraday low of $78,297 on Binance spot on Oct. 29 and was trading near $79,126 at press time, as large transfers moved out of wallets labeled as belonging to Binance. The cryptocurrency exchange said on X that it was aware of reports of a potential security issue and was actively investigating. Binance also said its security teams were reviewing all relevant information about the potential security issue.