According to CoinMeta, as rumors about a hack on Binance spread, the entire crypto market continued to decline on October 29th. Etherscan data shows that approximately $2.77 billion in funds left Binance wallets across five blockchain networks, and the market began to perceive this movement as a potential hacker attack. Although Binance has not confirmed any security vulnerabilities, these rumors, combined with the high-leverage long positions in the derivatives market, led to forced liquidations amounting to $620.41 million in just one hour, with a total of $951.23 million in forced liquidations for the entire day. At the time of writing, Bitcoin was trading at $78,929 per coin, with a total market value of $2.67 trillion, representing a decrease of 1.69%.