News linked to both this project and an event.
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)
THORChain posted on X stating that on October 31, a single-block reorg occurred on Ethereum, causing THORChain to erroneously pay out 10 ETH that had never actually been received. The automatic solvency check mechanism was immediately triggered, pausing ETH swaps. Within approximately two minutes, node operators further paused ETH transaction signing to prevent continued outflow of funds. As a precautionary measure, nodes subsequently paused transactions on all related chains to allow the core development team to investigate. Currently, the user has voluntarily returned the 10 ETH, and the treasury has regained solvency.Earlier reports indicated that the Ethereum reorg caused THORChain to pause, inadvertently delaying the money laundering of stolen Binance funds.
Odaily reports: Cryptocurrency market liquidations exceeded $1.54 billion on Friday morning, with an attack on Binance triggering a market-wide sell-off. Long positions accounted for approximately $1.29 billion in liquidations, representing over 80% of the total. Binance stated that attackers stole approximately $6.3 billion, with the investigation pointing to a compromised laptop belonging to a DevOps engineer.Bitcoin briefly dropped to $76,320, with related liquidations approaching $500 million; Ethereum long liquidations exceeded $300 million. Bitcoin subsequently rebounded to $78,400 but remains down 2% over the past 24 hours and 5% below its price at the start of the month.Binance said partners have frozen approximately $3 billion of the stolen funds, and the company will draw on its Secure Asset Fund for Users (SAFU) and corporate reserves to cover remaining customer losses. Deposits and withdrawals remain suspended, and Binance has revoked authorizations for affected addresses while contacting law enforcement and blockchain intelligence partners to trace the funds. On-chain analyst ZachXBT linked the attack to the North Korea-affiliated threat group Tradertraitor. (Bitcoin.com News)
Odaily reports: According to Bitcoin News monitoring, on-chain analysis shows that attackers appear to have exploited the Ethereum EIP-7702 mechanism to obtain signature authorization, installing malicious code without directly accessing the private keys of Binance-associated wallets. The attackers then called a function named "sweep" to transfer ETH and dozens of tokens into wallets under their control; the same delegation permission was reportedly also used to transfer $780 million USDC out of another Binance hot wallet. The attackers' transaction relayer received funding through Tornado Cash, and nearly 195,460 ETH was subsequently transferred to a newly created wallet. How the attackers obtained the relevant authorization remains unclear. Binance stated that user funds are safe and that an investigation is currently underway.
According to on-chain statistics cited by Decrypt, at least $5.57 billion in assets have been transferred from wallets associated with Binance, involving Ethereum, Bitcoin, and TRON; if confirmed as a hack, it would become the largest cryptocurrency heist in history. Binance stated that it is still investigating.
A Binance spokesperson told Cointelegraph that it is investigating a potential security issue with an Ethereum wallet. The security team is reviewing related activities, and no impact on user funds has been confirmed at this time.
According to CoinDesk, prediction market platform Polymarket launched five-minute cryptocurrency price prediction contracts on Oct. 28 on a platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), covering Bitcoin, Ethereum, Solana, and XRP. Users can wager on whether the cryptocurrency’s price at the end of the five-minute cycle will be higher or lower than the starting price; correct predictions pay out $1 per contract, while incorrect ones receive no payout.
Odaily reports: Gate Money connects account payments, asset exchange, and everyday spending, with its services underpinned by collaboration among international banks, payment institutions, custody providers, and clearing institutions. Eligible users can use bank accounts in their own name to manage fiat funds by currency, process deposits and withdrawals, and send and receive digital assets through supported blockchain networks. The availability of each feature depends on local regulatory requirements, the service capabilities of partner institutions, and user eligibility.On the compliance front, Gate has obtained a MiCA license and a Payment Institution (PI) license in the EU, its Dubai entity has obtained a VARA license, and its Australian entity has completed AUSTRAC registration as a digital currency exchange provider, with these qualifications applying to the respective entities and approved business activities. Gate US holds 37 state-level Money Transmitter Licenses (MTLs), covering 47 U.S. states and territories. On asset transparency, Gate's latest proof of reserves shows that the platform's total reserve size has risen to USD 8.688 billion, with an overall reserve coverage ratio of 118.49%; BTC reserves reached 25,727, with a reserve ratio of 121.60%; ETH reserves stood at 449,042, with a reserve ratio of 123.78%. Collaboration with financial institutions, compliance qualifications, and verifiable reserves together form the foundation of Gate Money's services, supporting the platform in meeting fund payment and asset management needs beyond trading. (Cointelegraph)
According to local media outlet Valor Econômico, the bank submitted its notice to the Central Bank of Brazil on Tuesday, ahead of the compliance deadline of October 30. Under the regulatory framework, banks authorized by the central bank can offer crypto services through a notification process, while dedicated virtual asset service providers must apply for an operating license. According to its website, Itaú Unibanco offers 15 crypto assets, including Bitcoin, Ethereum, and the US dollar-pegged stablecoin USDC; the service launched in December 2023, and the bank has not disclosed the number of clients or trading volumes.
Odaily report: Federally regulated digital asset bank Anchorage Digital Bank has expanded its partnership with Bitso to provide custody services for MXNB across six blockchains: Arbitrum, Base, Ethereum, Polygon, Avalanche, and Arc. Bitso stated that its infrastructure already processes 15% of transaction volume on the U.S.-Mexico remittance corridor.Bitso has also listed the U.S. dollar stablecoins USDPT and USAT, issued by Western Union and Tether respectively. Mexican users can directly buy and sell USDPT with pesos through the Bitso app; Western Union agents operating Bitso Business accounts can also exchange USDPT for other supported currencies. (Bitcoin.com News)
Odaily reports: CF Benchmarks, the index provider under Kraken's parent company Payward, has launched CFB Oracle, bringing pricing benchmarks for BlackRock's Bitcoin ETF and CME Group cryptocurrency futures into blockchain applications. The service provides benchmark data across cryptocurrency, equities, bonds, commodities, and forex markets, enabling developers to build products such as on-chain index funds, tokenized portfolios, and derivatives.CF Benchmarks states that its indices currently serve products representing over $120 billion in assets. CFB Oracle now supports Ethereum, HyperEVM, and Robinhood Chain, with plans to expand to other compatible networks in the future. Payward also plans to use the service to provide pricing data for its upcoming U.S. perpetual contract product, which is still awaiting regulatory approval. The service will compete with oracle providers such as Chainlink and Pyth. (CoinDesk)
According to Zon monitoring, available information indicates that this security incident may have originated from a Day 0 vulnerability in Initia's MoveVM built on Cosmos SDK. The vulnerability allowed attackers to mint additional tokens on Initia L1, but does not affect the native token INIT. Before the blockchain was halted, the attacker had already transferred out approximately $2.7 million worth of AUSD, ETH, and USDC through additional minting and cross-chain transfers. The team is still investigating, and the subsequent impact and further details remain to be confirmed.
According to The Block, the Ethereum Foundation announced a delay of the Glamsterdam upgrade, originally scheduled for October 26 on the Hoodi testnet, to allow for further review of EIP-8037's interaction with mainnet smart contracts. A new activation date has not yet been announced. Hoodi is one of Ethereum's test networks, primarily used to validate network upgrades before they go live on the mainnet.
According to Crypto Briefing, Thailand's Securities and Exchange Commission (SEC) stated that it has not yet received any formal applications for spot cryptocurrency ETFs, though multiple asset management firms have already submitted inquiries regarding spot Bitcoin and Ethereum products. The regulator declined to disclose potential issuers or establish a listing timeline, noting that it cannot confirm whether the inaugural Thai crypto ETFs will launch in 2026. On October 8, Thailand's SEC finalized 11 related notices, establishing a new regulatory framework that took effect on October 16. Under the rules, licensed asset management firms may create passive ETFs tracking a single eligible asset—currently restricted to Bitcoin and Ethereum—maintaining an annual average net exposure of no less than 80%. These products may only be listed and traded on the Stock Exchange of Thailand and must utilize SEC-approved digital asset custodians. Investors are required to complete risk education and formally acknowledge associated risks prior to purchase, while brokerages are barred from offering margin trading or securities lending for these funds. Thai mutual funds and private funds may allocate to domestic crypto ETFs within their existing investment limits. Previously, access to such exposure was only possible through overseas ETFs and was strictly limited to institutional and ultra-high-net-worth investors.
The Securities and Exchange Commission (SEC) of Thailand stated that multiple asset management companies have made inquiries about launching spot cryptocurrency ETFs, but no asset management company has yet submitted an approval application to establish a crypto ETF. The SEC did not disclose the names of the companies involved.The SEC noted that it is currently unable to determine whether the first batch of products can be approved before the end of 2026, with the specific timeline depending on the preparedness of applicants, regulatory review, and investor protection requirements. Thailand's new crypto ETF rules took effect on Friday, allowing asset managers to establish locally listed spot Bitcoin and Ethereum ETFs. (Cointelegraph)
The Cysic Foundation has issued a notice to the parties responsible for the unauthorized issuance of the CYS token, demanding the return of 275.872 ETH within 72 hours, which accounts for approximately 90% of the confirmed related proceeds. As a bounty for asset recovery, the party may retain the remaining approximately 30.652 ETH. The foundation stated that it has reconstructed key stages of the attack and preserved relevant technical and on-chain evidence; if payment is not received within the deadline, it will escalate the matter and cooperate with law enforcement to launch a criminal investigation.
Odaily reports: Bankless founder David Hoffman reposted Lighter's regulatory update on X and wrote: "Lighter season back on btw."During Lighter's Q3 investor call held last night via webcast, David Hoffman, speaking as an investor, asked: "Given that Lighter has already had extensive prior communication with the CFTC (U.S. Commodity Futures Trading Commission), do you expect the approval of the DCM (Designated Contract Market) and DCO (Derivatives Clearing Organization) licenses to come earlier than the CFTC's stipulated 180-day review period?"Lighter founder and CEO Vladimir Novakovski responded: "We believe that the extensive prior communication will make the whole process much smoother... The CFTC currently has a lot on its plate, so we can't give an exact timeline yet... However, the CFTC is a fast-moving team internally, so we expect the overall approval process to go relatively smoothly."Previously, David Hoffman reportedly sold all his ETH and rotated into tokens such as LIT, ZEC, and NEAR, with the rotated tokens subsequently significantly outperforming ETH.
Odaily reports: Vantage Bank and Rio Bank, through the Participate loan servicing platform, used Hazel Network tokenized deposits to complete principal and interest payments for loan participants. Participate stated that after Vantage submitted the payment, the platform completed the allocation of principal and interest, and the tokenized deposits reached the receiving institution's digital wallet in less than 3 minutes. Loan balances and payment notifications were automatically updated in sync, connecting with the traditional process that relies on wire transfers, spreadsheets, and email notifications. The payment, announced on October 19, is the first implementation following the two banks' collaboration in April of this year. Custodia CEO Caitlin Long confirmed that the transaction occurred on the Ethereum mainnet. Hazel was jointly developed by Vantage Bank and Custodia: Participate is a company under BankLabs, providing loan workflows and payment instructions; Vantage provides banking services and reserves; Custodia handles wallets, blockchain operations, compliance, and reconciliation monitoring. According to the Hazel whitepaper, the settlement model includes both on-chain records and traditional bank ledger records, only approved participants can transact, and customer identity and account information remain off-chain. Participate plans to offer tokenized deposits and Fedwire payment automation services to 750 banks for loan participations and syndicated payments.
Odaily reports: A Fox Business crypto reporter posted on X platform that the U.S. Securities and Exchange Commission (SEC) stated that three companies have notified it of their plans to operate tokenized securities trading venues (TSVs) under the new innovation exemption policy. TSV LLC is held by Obsidian Systems co-founders Ali Abrar and Ryan Trinkle, with Ryan Trinkle also serving as a board member of the Canton Foundation; the platform plans to operate on Canton Network. OKXICE is a joint venture between OKX and ICE Markets, planning to operate on OKX's Ethereum Layer 2 network X Layer. Kephas Corp. is the U.S. subsidiary of Perpetuals.com, led by founder @PGruhnPDC, who previously served as head of FTX Europe; the platform plans to operate on Kronos X Public, a public, permissionless Layer 2 network that adopts permissioned trading pools. The SEC stated that inclusion on this list does not mean the relevant companies have met the conditions of the innovation exemption.
Odaily News: Kalshi and BitGo have reached a new arrangement allowing certain customers to borrow against their custodied crypto assets and use the loan proceeds as margin for leveraged perpetual futures trading on the Kalshi exchange. The arrangement is aimed at clients of Kalshi Prime, Kalshi's US-registered futures commission merchant, and adopts a tripartite collateral management structure; loans are provided by its affiliated lending company Kalshi Katalyst, with collateral assets held at BitGo Bank & Trust. Eligible collateral assets include Bitcoin, Ethereum, and stablecoins deemed compliant with the GENIUS Act, with additional custodians expected to be onboarded in the future. Kalshi Prime CEO Jeff Bandman said the arrangement allows customers to participate in trading without having to exit their crypto asset positions.