News linked to both this project and an event.
Binance co-founder CZ stated that U.S. law enforcement agencies provided crucial assistance, including tracking and freezing assets, during the Binance hack, and believes this has helped mitigate Bitcoin's decline.
Binance has published a security incident recovery progress announcement, stating that it plans to resume phase one withdrawal services between 14:00 and 17:00 (UTC+8) on November 1.The first batch supports networks and assets including BTC, ETH, BNB, TRX, SOL, XRP, ZEC, DOGE, TON, POL, AVAX, ARB, BASE, OP, and SUI. In addition, Binance noted that there may be brief delays initially due to traffic, and other networks and assets will be opened successively once ready; deposit services remain open.
Binance has once again updated the progress of the hacking incident, stating that it has now covered $6 billion of the losses caused by the hack. Previously, Binance said it had completed the backfilling of approximately 90% of affected assets, a further increase from the previously disclosed 80%; BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have all achieved 100% full reserve backing.
DeFi protocol Troves announced that its xWBTC/WBTC vault was exploited on October 31 due to a vulnerability, with preliminary estimates indicating losses of approximately 8.6 BTC.
Strive CEO Matt Cole believes that the Binance hack has not changed the long-term investment logic for Bitcoin. The market may still need six to nine months to gradually recover, and it is currently too early to determine whether prices have bottomed out.
AI is accelerating the cyberattack process, with researchers noting that attackers have already used autonomous tools to automate phishing, vulnerability research, and credential theft. Binance stated that its October 30 incident is estimated to have caused a $6.3 billion impact; the Bitget incident in September involved approximately $387.5 million transferred to attacker-controlled addresses. Neither company has publicly attributed the incidents to AI.Google's threat intelligence unit said attackers are shifting from simple AI prompts to agentic attack workflows. In a 2026 case disclosed by Google, attackers used AI agents to carry out large-scale credential theft in under 6 hours, resulting in the leakage of thousands of third-party credentials; Anthropic has also observed attackers running AI agents in parallel to conduct reconnaissance, vulnerability exploitation, and theft.This summer, a partial seed randomness flaw in COLDCARD-generated seeds was linked to the theft of 1,367 bitcoins across more than 4,500 addresses, worth close to $116 million at the time. Keystone disclosed that an October website incident leaked personal information related to 25,964 buyer records; FBI records show that from January to November 2025, reported losses from account takeovers exceeded $262 million. (Bitcoin.com News)
Bitcoin News posted on X that Foundation has stated attackers are sending a new wave of phishing emails through compromised domains of other companies. These emails are not from Foundation's official domain.
Cryptocurrency exchange Binance said it will publish the results of its proof of reserves on November 2. Binance stated on October 30 that it has recovered approximately 80% of the stolen assets and is still processing the remainder; the proof-of-reserves snapshot is planned to be taken after the buyback is completed. Some users on Platform X have questioned that taking a snapshot after the buyback cannot reflect the previous asset shortfall, and the related insider-job claims currently have no solid evidence to support them.Blockchain intelligence firm TRM Labs attributed the theft to the North Korean hacker group Tradertraitor and said it has high confidence in this judgment. TRM Labs stated that the attackers may have controlled Binance's hot wallet signing system, and the funds were transferred out via ten blockchains in about 20 minutes; Elliptic said that a North Korea-linked group may be involved, but no government or law enforcement agency has yet confirmed the attribution.Binance said it has discovered other points of intrusion and that there is no evidence that wallet private keys were leaked; co-CEO Richard Teng stated that only Binance's own hot wallet was compromised and that customer funds were unaffected. Binance said withdrawals are expected to resume in stages within about 34 hours, after which it will publish the reserves report and a full technical post-mortem. (Bitcoin.com News)
Axel Adler Jr.'s chart shows that the cost basis for Bitcoin short-term holders is approximately $75,900. He noted that the market's reaction to the Binance hack so far has been relatively restrained.
Bitcoin News posted on X that blockchain analytics firm Chainalysis said hackers used "offensive agentic technology" to gain unauthorized access to its internal systems and tools, resulting in the leak of customer names, email addresses, user IDs, and organizational job titles. Chainalysis stated that there is currently no evidence that passwords, multi-factor authentication (MFA) keys, session tokens, or sensitive investigation data were compromised, and said the attack is unrelated to the recent $6 billion hack suffered by Binance.
Odaily reports: Lin Han, founder and CEO of cryptocurrency trading platform Gate, has called on the crypto industry to immediately establish a security alliance to unify security standards, intrusion detection protocols, and emergency response mechanisms in order to address security incidents like the one suffered by Binance. The Binance incident involved approximately $6.3 billion in losses.Gate also proposed promoting a vault solution with split keys, distributing private keys among users, Gate, and recovery partners, so that funds can only be transferred after at least two parties are compromised; vault withdrawals would be subject to a 48-hour delay to allow users to freeze their funds.Gate stated that it has flagged the relevant hacker addresses and will freeze any illicit funds transferred to its platform. (Bitcoin.com News)
CZ posted a response to the discussion that the Binance hack had limited impact on Bitcoin's price, stating that the $6.3 billion stolen this time is the largest in USD terms, but not in terms of Bitcoin quantity. Mt. Gox lost approximately 650,000 BTC back then, accounting for more than 5% of Bitcoin's total supply, and its impact was greater.CZ pointed out that assessing the impact of a hack also requires considering the number of affected users and the proportion of their assets damaged. In the Mt. Gox and FTX incidents, the affected users and the scale of their assets were nearly fully covered, whereas in Binance's case this time, the affected party was only the platform itself, user assets were unaffected, and the platform will bear all losses. CZ acknowledged that this incident remains a major blow to the crypto industry, to Binance, and to himself, but emphasized that Binance can survive the crisis, and that protecting users is the most important thing.
Odaily report: Crypto analyst Darkfost posted that market sentiment deteriorated noticeably within a single day, with the Fear and Greed Index falling from 51 (neutral) to 30 (fear), the lowest level since mid-August. Over the same period, Bitcoin dropped about 4% to 5% within 24 hours, briefly touching a six-week low near $76,500; Ethereum fell below $2,200, and total liquidations across the market exceeded $1.6 billion in the past 24 hours.Darkfost noted that historically, periods of market pessimism often correspond to accumulation opportunities, but the current index reading of 30 only represents fear and has not yet entered the extreme fear zone below 25, suggesting market sentiment may remain under pressure. In addition, this round of decline was partly triggered by Binance's $6.3 billion hack incident and did not stem entirely from a clear deterioration in market fundamentals.
Bonk Guy posted that although Bitcoin has further dropped from around $79,000 to near $77,000, most altcoins have shown relatively strong resilience against Bitcoin. While some tokens also declined, the drops were relatively limited. Binance appears to have bought back most of the tokens sold off during the hack incident, and approximately $3 billion in assets have been frozen and are expected to be returned. Of the $6.3 billion in losses involved in this incident, about half has been frozen, and the remaining portion may also be recovered within a reasonably short timeframe.Bonk Guy expects that Bitcoin may decline further and form a阶段性 low, but most of the selling pressure on altcoins may have already been released. Market conditions could improve over the coming weeks to months, and he believes it is currently more suitable to go long on altcoins, buying in batches during pullbacks.
Ansem cited the liquidation event on October 10, 2025, as an example, noting that at the time altcoins plummeted within a single candlestick, while BTC held above $100,000 for several weeks, only making a noticeably lower low until November. He believes the smaller immediate drop in BTC is due to fewer high-leverage participants and more passive selling pressure, which does not signal that the downward trend will not continue.
21Shares has released an analysis report on the Binance hack, stating that on October 29, Binance suffered an attack of approximately $6.3 billion, of which about $3 billion in stolen assets have now been frozen, and Binance has committed to bearing all losses. Within 24 hours after the incident, Bitcoin fell slightly more than 2%, significantly lower than the roughly 26% decline Bitcoin experienced after the FTX incident in November 2022. 221Shares emphasized that this incident was a security breach affecting Binance as a single company, and that the Bitcoin network itself was not attacked. Binance stated that it will cover all losses through the SAFU fund and corporate funds. Calculated at a Bitcoin price of approximately $78,509, the 15,000 BTC held by the SAFU fund is worth about $1.18 billion, which can cover about 36% of the losses on unfrozen assets, with the remaining portion to be borne by corporate funds. The report also mentioned that Chainalysis has high confidence that the attack is linked to North Korea, but Binance and government agencies have not yet officially confirmed the attribution.In addition, 21Shares stated that the assets of its physically backed ETPs and ETFs are held in cold storage by third-party custodians such as BitGo, Coinbase Custody, Anchorage Digital, and Zodia Custody, and are not kept in exchange accounts. Therefore, they were not affected by this incident, and all of the company's products are trading normally.
Odaily report: Analysts from three Wall Street firms—Cantor Fitzgerald, TD Cowen, and Compass Point—all believe that despite Binance suffering an approximately $6.3 billion hack, there is currently insufficient evidence to suggest the incident will threaten the broader crypto market, and the market's prior recovery trend is unlikely to be interrupted as a result.Cantor Fitzgerald analyst Ramsey El-Assal noted that Tether has frozen over $1.5 billion in stolen assets, Circle has frozen approximately $800 million, and Ripple has frozen about $200 million, with Binance stating that the total frozen stolen funds currently amount to roughly $3 billion. He believes the crypto industry is gradually improving its ability to respond to such security incidents and expects crypto-related stocks such as Coinbase, Robinhood, and Strategy to rebound once market panic subsides, recommending that investors buy on the dip.TD Cowen analyst Lance Vitanza believes the attack exposed security weaknesses in Binance's own transaction signing infrastructure rather than flaws in the underlying technology of cryptocurrencies like Bitcoin, and that the market sell-off may present an opportunity to accumulate Bitcoin and shares of listed companies holding Bitcoin.Compass Point analysts believe Binance has sufficient liquidity to cover the funding gap, and expect its excess USDT reserves, BTC reserves, and USDC funds to be adequate to absorb the losses. However, the firm also warned that Binance compensating customers could put pressure on stablecoin supply and may drive users to migrate from centralized exchanges to competing platforms such as Coinbase, Bullish, and Hyperliquid. (CoinDesk)
Odaily report: Crypto analyst Darkfost posted that although Binance yesterday suffered an attack suspected to be linked to the North Korean hacker group Lazarus Group, with losses of approximately $6.3 billion—the largest theft in crypto industry history—the platform's reserve assets only declined modestly, and the impact on users appears limited.Data shows that during the attack, Binance saw outflows of 18,279 BTC, 185 million XRP, and $1.67 billion USDT at one point; ETH flowed out in two batches, totaling 246,840 coins (167,464 and 79,376 respectively). Based on same-day reserve changes, BTC reserves fell 3.1% to over 682,000 coins, ETH dropped 8.5% to 3.3 million coins, XRP declined 8% to 2.47 billion coins, and USDT decreased 6.3% to $34.1 billion.Additionally, Binance stated it has frozen approximately $3 billion in related assets, including $1.567 billion USDT and over $800 million USDC, and pledged to absorb losses through the SAFU fund and company reserves. Darkfost believes the magnitude of change in Binance's reserve assets indicates the platform still possesses a certain capacity to absorb shocks.
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.