News linked to both this project and an event.
Odaily reports: According to monitoring by on-chain analyst Ai Yi, the North Korean hackers suspected of attacking Binance made multiple operational errors while transferring stolen assets: first, they transferred various tokens worth approximately $3.5 million to the NEWT contract address; second, they failed to check the liquidity pool status, causing PROM tokens worth approximately $5 million to be sold for only $71; third, they used MetaMask to pay Gas fees on their behalf, which may leave off-chain operation logs such as IP addresses; fourth, they deposited approximately $250,000 to Gate, and Gate has frozen two related accounts and stated it will assist with the follow-up investigation.Related analysis suggests that the more types of stolen assets there are and the more complex the transaction links and parties involved, the easier it is for attackers to leave tracking clues, which may also help Binance subsequently trace the flow of funds.
Odaily reports: Tom Lee, Chairman of Ethereum treasury company Bitmine and co-founder of Fundstrat, discussed key market trading themes for the coming week, the U.S. midterm elections, and the Binance hack incident in an interview on CNBC's "Squawk Box." He stated that despite the turbulence, he still expects the market to remain strong through year-end. (CNBC)
Odaily Report: Crypto market traders expect the U.S. midterm elections to trigger short-term volatility but are unlikely to cause sustained turbulence. The implied volatility (IV) term structure for Bitcoin options shows that options expiring on November 4 have an IV of approximately 43.5%, notably higher than the roughly 36% level for contracts expiring afterward, indicating that the market is pricing in volatility from early voting results and media projections following election day. Ethereum options show a similar pattern, with the IV curve expected to decline to around 36% in late November.Meanwhile, Bitcoin and Ethereum futures open interest remained largely stable over the past 24 hours, at approximately $58 billion and $23.58 billion respectively, suggesting traders prefer hedging existing positions through options rather than adding new futures bets. Laevitas noted that demand for downside protection may dissipate quickly after the election event concludes, and the bump in the IV curve may disappear accordingly.In the market, Bitcoin and Ethereum are currently above $78,000 and $2,290 respectively, having rebounded from lows following last Friday's attack on Binance. Alex Thorn, Head of Research at Galaxy, noted that Bitcoin has closed above its 50-week moving average for the seventh consecutive week, demonstrating strong resilience. However, U.S. spot Bitcoin ETFs saw net outflows of approximately $643 million last Friday, the largest single-day net outflow since June, which remains worth monitoring. (CoinDesk)
Odaily Report: CryptoQuant analyst Axel Adler Jr. posted that October, known as "Uptober," has closed lower for the second consecutive year. Bitcoin fell 7.2% in October this year, compared with a 3.8% decline over the same period last year. Bitcoin had previously risen 25% and 6.4% in August and September, respectively, but the market failed to sustain the rebound, and seasonal upside expectations were once again disappointed.Adler noted that the theft of assets from Binance's hot wallet on October 29 cast a shadow over the month's market. The incident caused losses of approximately $6.3 billion, and Binance said it would absorb the losses through the SAFU fund and the company's own capital. He believes that assessing the impact of the incident requires attention not only to the amount stolen but also to its impact on market participants' confidence and liquidity.However, Adler believes that the current market reaction remains relatively restrained. Despite the large-scale theft, Bitcoin is still holding near its annual moving average. By comparison, after the FTX collapse in November 2022, Bitcoin fell 23% within a week.
Odaily reports: Blockchain analytics firm Elliptic has stated that there is currently no evidence indicating that the North Korean hackers involved in the $6.4 billion Binance theft used artificial intelligence (AI) to launder the stolen funds. Tom Robinson, co-founder and chief scientist at Elliptic, noted that the hackers used approximately 20 automated software services within less than three days to move funds through decentralized exchanges, lending protocols, and cross-chain bridges, but the operations were more consistent with traditional scripts written and supervised by humans rather than AI agents capable of autonomous decision-making.Elliptic stated that the hackers repeatedly performed the same operations after failed transactions, repeatedly used the same amounts for transfers, and would first test new pathways with small transfers before moving large sums—all behaviors more consistent with the execution patterns of pre-programmed scripts. Although the hackers used six cross-chain bridges for the first time within 100 minutes on October 30, existing evidence cannot determine whether these services were selected by humans or AI systems.Currently, the hackers still control approximately $3.28 billion in stolen funds spread across more than 950 wallets, while another approximately $2.85 billion—44% of the total stolen funds—has been frozen or recovered. The U.S. Federal Bureau of Investigation (FBI) has previously confirmed that the theft was carried out by the North Korean TraderTraitor hacking group. (CoinDesk)
Elliptic stated that the money laundering activities involving the stolen funds from Binance show signs of automation, but on-chain data cannot determine whether AI agents are being used.
Odaily Report: Bitcoin has fallen back to around $77,900. After Binance resumed withdrawals in phases on Sunday, it processed a total of $4.65 billion in withdrawals and $1.01 billion in deposits, with a net outflow of $3.64 billion. Binance stated that it has now covered approximately 95% of the $6.3 billion in stolen funds. The U.S. Federal Bureau of Investigation (FBI) has officially attributed the theft to North Korea's TraderTraitor group.In addition, U.S. spot Bitcoin ETFs saw a net outflow of $643 million on Friday, the largest single-day net outflow since June, erasing the previous four consecutive days of inflows.On the derivatives side, cryptocurrency futures trading volume rose 56% over 24 hours to $111.8 billion, but total open interest remained essentially flat at $137.1 billion, indicating increased market trading activity but limited new position building. During the same period, liquidation amounts increased 77% to $140.2 million. BTC futures open interest was essentially flat, and ETH futures open interest also changed little; the three BTC options with the highest trading volume on Deribit over the past 24 hours were all put options. (CoinDesk)
according to Arkham monitoring, the Binance hacker transferred $4 million to 3 Binance deposit addresses. Arkham noted that these addresses may belong to Nested Services, i.e., third-party trading platforms that use Binance for liquidity and custody services. This transfer does not necessarily mean the hacker directly deposited funds to the Binance exchange.
Elliptic found that stolen funds from Binance have entered Bitcoin mixer transactions for the first time, involving approximately 28 BTC, with associated addresses still holding assets worth approximately $3.24 billion.
South Korea's Financial Services Commission convened an emergency meeting to inspect exchange security systems and mandated increasing the cold wallet ratio and strengthening monitoring of deposits and withdrawals.
Odaily reports: According to Bitcoin News monitoring, the US Secret Service stated that within minutes it helped freeze a "substantial portion" of the stolen assets in the Binance hack case involving $6.3 billion. The agency said investigators immediately worked with crypto industry partners after Thursday's attack to identify and freeze the stolen assets. So far, approximately $3 billion in assets have been frozen cumulatively, but the Secret Service did not disclose the specific amount it helped preserve. The FBI attributed the theft to the North Korean TraderTraitor group and published hundreds of wallet addresses associated with the theft. Federal agencies are tracking and recovering the remaining funds.
According to Xinhua Daily, Chinese Ministry of Foreign Affairs spokesperson Mao Ning held a regular press briefing. A Yonhap News Agency reporter asked about the US Federal Bureau of Investigation's (FBI) October 31 statement identifying North Korea as the mastermind behind the theft of approximately $6.3 billion in Binance assets. US President Trump stated that if the allegations are true, the United States would discuss the matter with North Korea, and the reporter sought the Chinese side's views on the incident and Trump's comments. Mao Ning replied, "Regarding your question, we are not aware of the situation."
Odaily reports: According to Coinglass monitoring, Binance's Bitcoin wallet balance has declined for four consecutive days, reaching approximately 652,300 BTC today. On October 30, when Binance suffered a hack, its Bitcoin wallet balance was approximately 675,500 BTC, a decrease of about 23,200 BTC. Additionally, possibly due to Binance reopening withdrawals, data shows that Binance's Bitcoin wallet balance decreased by approximately 15,894.17 BTC over the past 24 hours.
According to CoinPost, U.S. Nasdaq-listed company Next Technology Holding (NXTT) announced on Oct. 30 that its board of directors has unanimously approved the sale or pledge of approximately 5,833 BTC to mitigate position risk and enhance liquidity. The specific volume and timing of the sales remain undetermined, and the move does not constitute a full liquidation. The resolution authorizes the CEO to dispose of the assets in tranches through channels such as direct exchange sales, block over-the-counter trades, and BTC-backed lending.
Odaily reports: 40 million XRP (approximately $50.46 million) was transferred from an address linked to the Binance attacker to an unknown wallet.
Odaily reports: According to monitoring by on-chain analyst Yu Jin, the hacker who stole approximately $22 million in assets from the Pando Rings project 4 years ago spent 16.98 million DAI to buy 7,548 ETH at an average price of $2,249, following the market downturn triggered by the Binance hack 3 days ago. 2 hours ago, the hacker transferred 4,000 ETH (worth $9.22 million) through Tornado.
JackYi (@Jackyi_ld), founder of Liquid Capital, stated in a post that, based on the current situation, Binance's profits are sufficient to cover the amount stolen in this incident, with no issues regarding asset security or liquidity, making it entirely different from the FTX event back then. He believes the core issue at present is how exchanges, including Binance, can prevent secondary thefts. The market worries whether hackers' attack capabilities in the AI era have surpassed exchanges' defensive capabilities, and whether hackers have planted hidden vulnerabilities in exchange systems. He called on exchanges to publish detailed and reliable security protocols to users.
Gate posted on X that it has identified and frozen two related accounts. The relevant information has entered the due diligence process, and the platform will fully cooperate with law enforcement authorities and follow-up investigations.Earlier, according to Lookonchain monitoring, the Binance hacker deposited $250,000 to Gate over the past 12 hours.
According to on-chain analyst Auntie Ai (@ai_9684xtpa), an address linked to Kanye suspected of maintaining a leveraged long position on ETH appears to have increased its exposure. Following the disclosure of the Binance hack on October 30, the address sold 1,390 ETH in tranches to mitigate liquidation risk, at an average price of approximately $2,275.6 per ETH, totaling approximately $3.163 million, incurring a loss of approximately $317,000. After Binance resumed large-scale withdrawals today, the address withdrew another 2,074 ETH from the exchange, valued at approximately $4.7 million.
Odaily reports: On the morning of November 2, South Korea's Financial Services Commission urgently summoned representatives from trading platforms including Upbit, Bithumb, and Coinone to convene a security inspection meeting, focusing on examining the platforms' preparedness for large-scale hacking attacks and their user asset protection systems. The meeting was held ahead of a security inspection meeting for the entire financial industry scheduled for November 5. It aimed to understand the South Korean crypto industry's response measures in light of the recent large-scale asset theft incident at Binance, and to discuss plans such as increasing the proportion of user assets stored in cold wallets. Under South Korea's current Virtual Asset User Protection Act, trading platforms must store at least 80% of users' virtual assets in cold wallets isolated from the internet. Upbit's cold wallet storage ratio exceeds 99%, Bithumb's is approximately 94%, Coinone's is approximately 85%, while Digital X and Gopax are in the low 80s.