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Major security breaches hit crypto and banking sectors, with Coinbase warning of a potential $8B Bitcoin hack and Brazil's central bank losing $140M due to a partner breach, highlighting rising cyber threats.

Suspicion surrounds mysterious $8.6 billion Bitcoin move

CryptoSlateSaturday, July 5, 2025 at 11:22:42 PM
Suspicion surrounds mysterious $8.6 billion Bitcoin move
A massive $8.6 billion Bitcoin transaction on July 4 has raised eyebrows, with Coinbase’s Head of Product, Conor Grogan, suggesting there’s a slim chance it could be a hack. He called the move "extremely odd" but stressed his theory is just "extreme speculation" for now. The crypto world is buzzing with theories, but no clear answers yet.
Editor’s Note: When billions in Bitcoin move mysteriously, it’s not just a curiosity—it shakes trust in the system. If this was a hack, it could spell trouble for Bitcoin’s reputation as a secure asset. Even if it’s just a weird glitch or a whale moving funds, the uncertainty alone can spook investors. Crypto thrives on transparency, and shady moves like this don’t help.
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