Binance was hacked late at night and withdrawals were suspended? Bitcoin plummeted 10%

Yesterday, the U.S. Securities and Exchange Commission (SEC) reiterated that online digital asset trading platforms should register with it as exchanges. At the same time, Binance was suspected of being hacked and withdrawals were suspended late at night. Affected by the two major news, Bitcoin fell 10% and returned to below $10,000.

The SEC said in a statement, "If a platform offers trading in digital assets that are securities and operates in the form of an 'exchange' as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or apply for an exemption from registration." The statement led to market concerns that tightening regulatory policies may restrict trading.

At the same time, several users revealed in online forums that the cryptocurrency trading platform Binance was suspected to have been hacked and suddenly began to sell the cryptocurrencies in their accounts. Since then, Binance has suspended all withdrawals of trading currencies and stated that it is investigating unauthorized market sales.

As of now, Bitcoin has fallen about 50% from its high of nearly $20,000 in December last year.