On Monday, Bitcoin strengthened slightly, which helped partially offset previous losses. This came after the largest cryptocurrency exchange resumed withdrawals in an effort to deal with the fallout from last week’s massive asset theft.
Investors’ appetite for risk is also being influenced by the U.S. midterm elections taking place this week. The market is on hold as participants try to figure out how the rules of the game will change if Republicans lose control of Congress.
Looking at the numbers, as of 08:08 Moscow time, Bitcoin had risen 0.4% to $78,353.9. Although this is an increase, it’s worth remembering that over the past month, the asset has still lost about 6%.
The leading cryptocurrency has been hovering near its monthly lows for quite some time, as the price range that had been in place since mid-September was broken. However, a slight upward trend is also visible in other cryptocurrencies.
The market situation was marred by news of a new cyberattack on the BTCPay payment system, which works with Bitcoin.
Binance has resumed withdrawals and states that it has already compensated for over 90% of the $6.3 billion stolen.
Last weekend, Binance announced that it had resumed asset withdrawals on several major blockchains. This was in response to an unprecedented hack, as a result of which $6.3 billion was stolen from the largest exchange by trading volume.
Binance reported that it used its own funds to repurchase equivalent tokens and cover $6 billion of the stolen amount. The hack itself came to light late last week.
TraderTraitor—a unit linked to the North Korean government—was identified as the culprit behind this incident, which became the largest theft in the history of the crypto market.
Immediately after the attack, Bitcoin prices and the entire market plummeted. Investors feared massive sell-offs, particularly from those who had acquired the stolen assets.
Binance confirmed that it had managed to freeze $3 billion of the stolen funds and promised to fully reimburse customers for their losses.
BTCPay advises updating servers following reports of thefts.
On Monday, the Bitcoin payment service BTCPay Server announced that it had discovered a vulnerability affecting outdated versions of the system released prior to July 2026.
Since instances of unauthorized withdrawals from hot wallets have been reported, the company advised all users to urgently update their software to the latest version. BTCPay clarified that no thefts occurred among those who had already updated their wallets.
This incident has only heightened concerns about the security of the entire crypto infrastructure, especially in light of the recent Binance hack.
What’s happening in the market right now: altcoins are fluctuating, and there are no clear positive trends yet.
On Monday, cryptocurrencies mostly traded within a narrow range. The trend was neutral or even negative, and coins struggled to recover from the October drop.
The second-largest cryptocurrency by market cap gained 0.7% and is trading at $2,285.44, while XRP fell by 0.4%.
Solana and Cardano fell by 1.4%, while BNB posted a slight gain of 0.35%.
As for meme coins, Dogecoin fell by 0.6%, while the TRUMP token rose by 4%.