Bitcoin whipsaws below $79,000 as Binance hot wallet reportedly drained by Tornado Cash-linked wallet
· regulatory · Sentiment: neutral
Bitcoin briefly dipped below $79,000 after on-chain reports showed a Binance hot wallet drained by an address linked to the Tornado Cash mixer. Multiple sources confirm the incident involved the transfer of roughly 5,000–6,000 BTC from the exchange’s hot wallet, triggering immediate market volatility and a short-lived price whipsaw. The consensus attributes the move to a suspected hacker or compromised entity rather than a Binance security breach, with the exchange confirming it has since replenished the wallet. The key implication is that large-scale, mixer-linked transfers continue to introduce sudden downside pressure on Bitcoin’s spot price despite improving overall market sentiment.