Binance Hack: This Is What Bitcoin Did After 6 Earlier Crypto Disasters

Bitcoin has survived several major hacks, often seeing its value drop, then setting off on a run that often ended in new all-time highs. The crypto space is still reeling from its biggest hack ever, which saw well over $6 billion worth of crypto drained from Binance, although about $3 billion of that is reported to have been frozen. The incident affected Bitcoin, which dipped to $76,350 for the first time since mid-September before recovering by a couple of grand. But now, a historical comparison shared by CryptosRus shows that BTC rallied to new all-time highs after several major security failures, leading to the question: will the same happen again this time? Bitcoin’s History After Major Crypto Hacks In an October 30 post on X, CryptosRus noted that following the Mt. Gox incident in 2014, the price of Bitcoin initially fell by half but soon embarked on a run that saw it increase a hundredfold by 2017. Another incident, which happened roughly two years after Mt. Gox, saw nearly 120,000 BTC, valued at about $72 million at the time, stolen from Bitfinex, triggering a 20% dip in the OG cryptocurrency’s value. But as CryptosRus pointed out, it hit a new all-time high near $20,000 alm...