News linked to this event type.
Ki Young Ju, founder of CryptoQuant, posted on X that not many exchanges are able to fully compensate users after a hack. Binance has previously fully compensated users and will continue to do so; he stated that this is one of the reasons for Binance's continued growth.
Odaily reports: Hardware wallet brand Keystone has issued an update on the handling progress of a previous security incident, stating that it has shortened the logistics data retention period from 180 days to 90 days, effective immediately. Users who wish to have their data deleted earlier may contact official customer service after their order is delivered to request immediate deletion.Keystone stated that it has sent email notifications to all affected users, suspended all shipments, and isolated affected devices at all partner warehouses, including Amazon warehouses. The team is currently responding to user inquiries through the X platform and customer service tickets, and continues to improve the security of the inquiry page for affected users.In addition, Keystone reminds users to be vigilant against phishing attacks, emphasizing that emails related to the incident are sent only through the official email address, and that the official team will never request mnemonic phrases via email, direct message, or phone call. It also advises users to remain cautious about messages requesting urgent action. The team stated that further measures will be announced in the coming days and apologized to affected users for this incident.
Odaily reports: Israel's State Attorney's Office announced on Thursday that Israel has extradited Alexander Block, a dual Israeli-Russian national, to the United States. Block, whose original name is Alexander Gurevich, faces charges for allegedly stealing approximately $2.8 million from the crypto cross-chain bridge Nomad in 2022.U.S. prosecutors allege that Block, operating under the username "Bitlik," carried out six test transfers and four main transfers, moving tokens through multiple wallets and converting them into other cryptocurrencies to conceal their origin. His actions exposed a vulnerability in Nomad's smart contract, after which other users drained over $186 million from wallets controlled by the project.Israel's Supreme Court rejected Block's extradition appeal, ruling that even if the software permits the actions in question, exploiting a programming vulnerability can still constitute unauthorized computer intrusion; the court also noted that publicly visible on-chain transactions do not necessarily reveal the identity of wallet controllers, nor do they rule out attempts to conceal the source of funds. Supreme Court President Isaac Amit subsequently denied his request for a retrial. (Decrypt)
trader Killa stated in a post that the FTX collapse once marked a market bottom, and the recent Binance hack incident may have a similar effect. He believes the best way to recoup losses is to drive prices up significantly rather than push them further down, noting that Binance holds billions of dollars worth of Bitcoin and has the financial capacity to launch billion-dollar-scale long positions, and that such operations may not be directly observable by retail investors.Killa also speculated that Binance may have generated approximately $1 billion in revenue through liquidations, slippage, and trading fees. Although the market may need some time to digest the short-term impact of this incident, he remains bullish on the medium- to long-term outlook for the crypto market.
Bitcoin News posted on X that hackers stole the authentication keys used to verify the authenticity of Keystone hardware wallets, prompting the company to destroy 18,835 devices. The security breach also exposed 25,964 customer records.
According to official statements, Bitget Wallet stated that in response to the security incident at Binance today, it has immediately collaborated with Binance's security team to continuously track the flow of involved funds, including those transferred via the Bitget Wallet cross-chain bridge.
BNB Chain has issued a statement expressing support for Binance and the teams that have been handling the security incident since last night, and confirming that BNB Smart Chain, opBNB, BNB Greenfield, and the BNB Chain cross-chain bridge were all unaffected by this incident. All networks are currently operating normally, and funds on BNB Chain are safe. BNB Chain also stated that it fully trusts the Binance team to handle this incident and will continue to collaborate with ecosystem partners to strengthen security protections and maintain industry trust.
Odaily reports: Some market observers suggest that following the approximately $6.3 billion hack on Binance, project teams, VCs, and associated wallets may temporarily hold off on selling their altcoin holdings. In the coming days, funds, insiders, and project-affiliated wallets may exercise greater caution before selling tokens into the market to avoid further exacerbating selling pressure.Blockchain analytics firms TRM Labs and Chainalysis have both attributed the attack to North Korea with high confidence. Binance has committed to covering user losses through its protection fund and company resources, and approximately $3 billion in stolen assets have been located, with about half frozen through stablecoin issuers such as Tether and Circle. Market analysts note that the incident has once again sparked discussions around the security of centralized trading platforms, the freezing capabilities of stablecoins, and the difficulty of tracking decentralized assets. (zerohedge)
He pointed out that the losses from this theft amount to slightly over $6 billion. In dollar terms, it is roughly 25% less than FTX's funding gap. However, the market maintains high confidence in Binance's commercial credibility, and the industry quickly came together to assist one another. He believes this shows that the sector has matured.
According to Nicolas Quatravaux, Head of Paradigm EMEA, the first large trade occurred approximately 15 minutes after the initial fund outflow from the Binance wallet and prior to public disclosure. The buyer purchased 250 BTC put options with a strike price of $78,000 expiring on October 31, with a notional value of approximately $20 million.
according to informed sources, after hackers stole $6.3 billion, Binance is cooperating with law enforcement agencies from multiple countries around the world, including the U.S. Federal Bureau of Investigation (FBI) and the U.S. Secret Service (USSS). The U.S. Embassy in London said it had no comment, and the U.S. Secret Service has not yet responded to a request for comment. (Reuters)
CZ responded to a community user's comment on Bitcoin's resilience, saying that given the sharp declines in traditional financial markets today, which fell more than the crypto market, Bitcoin's performance was quite surprising. Traditional financial market downturns usually drag down the crypto market, as investors tend to sell off assets and hoard cash, but this time Bitcoin demonstrated remarkable resilience.Previously, a community user noted that if the world's largest cryptocurrency exchange had suffered a hack exceeding $6 billion, Bitcoin's price would have been expected to take a heavy hit, yet its decline that day was only about 3%, suggesting the market bottom may be near.
According to The Defiant, Synthetix's protocol DAO has recovered 8.4 million SNX tokens stolen in the Binance hack. These tokens are currently securely stored in its Safe and will be returned upon Binance's request.
following a suspected North Korean hacker attack on Binance involving $6.3 billion, Bitcoin briefly fell to $76,400, its lowest level since September 18, before rebounding somewhat. Ethereum touched a low of $2,170 before recovering to around $2,220.Risk-off sentiment has intensified in the market, with bearish sentiment heating up in both BTC and ETH options markets. Among the options with the highest trading volumes, put options account for the majority, and 25 Delta skews across multiple expiries have risen simultaneously, reflecting increased demand for hedging against downside risk. Meanwhile, weakness in U.S. tech stocks has also added pressure to the market, with Nasdaq 100 index futures falling 2.3%. (CoinDesk)
Binance's Yi He stated that Binance's SAFU fund and Binance's holdings include a large amount of BTC, ETH, and others. Binance is currently purchasing, through over-the-counter (OTC) and on-exchange trading, all altcoins that exactly match the stolen assets in order to complete Proof of Reserves. Once the purchases are complete, Binance will sync the information again.
HTX Research analyst Chloe noted that this week, the cryptocurrency market faced a dual shock from expectations of macro tightening and the Binance security incident, causing short-term risk appetite to drop significantly. BTC briefly dipped below $77,000, triggering approximately $1.55 billion in liquidations across the market within 24 hours, including around $1.34 billion in long positions. Reports indicate the security incident involves assets totaling approximately $6.3 billion, with institutions like Tether and Circle assisting in freezing roughly $3 billion of the related funds. Binance has also committed to covering user losses, but the progress of the incident's resolution will continue to dictate the pace of market sentiment recovery.
According to on-chain analyst Ember (@EmberCN)'s monitoring on October 30, Maji's ETH long positions were entirely liquidated during the morning sell-off triggered by the Binance hack. In the afternoon, he deposited an additional 250,000 USDC to continue opening longs, and currently holds long positions worth approximately $5.88 million on Hyperliquid, covering ETH, HYPE, and BTC.
Some users are concerned that freezing protocol collateral funds could trigger cascading liquidations in DeFi. He Yi's reply clarified the situation regarding AAVE-related collateral funds: currently, the 60 million USDT collateralized in AAVE falls outside the full freeze scope, and the hackers actually only stole approximately $46 million worth of ETH. Once these assets are unfrozen through the law enforcement system, an additional ~$14 million in recoverable assets will be available.
Regarding the losses and compensation following the hack on Binance, CZ stated that the actual losses may exceed external estimates, but Binance will absorb the cost. He provided a rough estimate: stolen funds amount to over $6 billion, about $3 billion have been frozen, the SAFU fund totals over $1 billion, leaving a funding shortfall of roughly $2 billion. He noted that SPCX positions alone are worth over $1 billion. Although the remaining gap is "painful," it remains within a controllable range.
Odaily Report: YouTuber and boxer Logan Paul, in a recent podcast, responded to longtime collaborator Mike Majlak's mention of cryptocurrency exchange Binance being hacked with approximately $6 billion in assets stolen, stating that he does not trust cryptocurrency and calling it a scam. Binance estimates the total impact of this incident at approximately $6.3 billion.Commenters subsequently brought up Cryptozoo, an NFT game promoted by Logan Paul, with buyers claiming the project was not launched as promised. In February 2026, he again filed a motion to dismiss a lawsuit in a Texas federal court accusing him of carrying out a rug pull through the project, stating that the latest complaint fails to establish that he should be held responsible for the project entity's actions.Binance stated it has frozen approximately $3 billion in stolen assets, and co-CEO Yi He said the exchange will bear all hacker losses. (Bitcoin.com News)