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Korea's financial regulator (FSC) will issue a document that will allow crypto exchanges to halt deposits and withdrawals even before a hack is confirmed. Previously, blocking withdrawals without clear evidence of an incident was not allowed.
Micron (MU, a major American manufacturer of memory for AI servers) shares were up about 6% before the US market opened on Wednesday, after closing Tuesday at $725.11. Two reasons converged: Anthropic named Micron among seven buyers of its $26 billion stock offering, and cloud company CoreWeave raised its revenue forecast.
One of Brazil's largest crypto exchanges is restoring deposits and withdrawals of money via Pix (the Brazilian central bank's instant payment system) starting next week. Deposits and withdrawals of cryptocurrency itself remain suspended, with no date for their return.
MEXC exchange explained the halt as "scheduled maintenance" a day after the US Treasury order that cuts it off from the American financial system. According to the Cexorer tracker, as of November 7, six out of 18 tracked networks for USDT withdrawal (a stablecoin with an exchange rate pegged to the dollar) were working.
On November 6, FinCEN (the US Treasury's financial crimes unit) banned American banks from making any transfers to or from the MEXC Global crypto exchange. The exchange was named a "primary source of money laundering threat," with claims totaling $16 billion in transactions over five years.
On November 6, the selloff in tech and semiconductor stocks spread from Wall Street to Tokyo, Seoul and Shenzhen. Asian markets lost more than $1 trillion in value, and in South Korea trading had to be halted by the exchange's automation.
On November 5, Binance deleted all access keys associated with SignalPlus, a Hong Kong-based platform for trading crypto options and derivatives. The service itself reported a "potential security issue," and the exchange called the key revocation an immediate precautionary measure.
After the Democrats' victory in the US midterm elections, Nasdaq-100 futures (contracts on the index of the 100 largest technology companies) fell 2.4% overnight. By 16:11 Moscow time the decline had been fully recovered, and by 17:44 Moscow time the Nasdaq was recording growth of about 2%.
The exchange published a report on the October 29 hack. It all began when a Binance engineer was looking for a new job and downloaded a "test assignment" from a fake employer onto his work computer. The FBI attributed the $6.4 billion theft to the North Korean group TraderTraitor.
On the morning of November 3, BTC fell below $77,000, while Asian exchanges opened down 3-4% due to chipmaker stocks. Over two sessions, $1.04 billion was withdrawn from US spot Bitcoin exchange-traded funds (funds through which the asset is bought like a stock).
Michael Selig, chairman of the CFTC (the US derivatives market regulator), in an interview with CNBC on October 30 called the theft from Binance an argument in favor of federal rules for crypto exchanges operating outside the US.
On Tuesday morning BTC lost about 2% and is trading just below $77,000, erasing Monday's rebound. The trigger was a sell-off in the US tech sector: the Nasdaq 100 index dropped 10% from its recent high, meaning it entered a correction.
Bitmine Immersion Technologies, traded on the NYSE, bought another 8,573 ETH worth about $19 million last week and is closing in on its goal of holding 5% of all Ethereum coins.
Brazil's largest crypto exchange Mercado Bitcoin suspended deposits and withdrawals on Monday, November 2, after its wallets were emptied across ten blockchains at once. Loss estimates from specialized security firms exceed $40M.
After a $6.3 billion hack - the largest in crypto history - Binance transferred 7,499 BTC from its SAFU insurance fund. The fund's Bitcoin reserves have roughly halved: from ~15,000 BTC to ~7,500 BTC (about $583 million), and the exchange has not given a timeline for replenishing it.
On October 29, about $6.36 billion was withdrawn from Binance across ten blockchains. $2.85 billion (44%) was frozen or seized, the remaining $3.24 billion sits in more than 950 attacker wallets, and part of it has already passed through mixers (services that mix coins to break the trail).
The FBI officially named the North Korean group TraderTraitor as the culprit behind the October 29 Binance hack. After the findings were released, clients withdrew a net $3.64 billion - 2.1% of all exchange assets.
On Saturday at 14:34 MSK, THORChain node operators (a cross-chain protocol through which assets are exchanged between blockchains without an intermediary and without identity verification) halted asset exchanges for 10 networks - among them Bitcoin, Ethereum, Solana and Tron. Side effect: along with all users, those who were laundering money after the largest hack in crypto history also lost access.
After the Binance hack, US spot Bitcoin ETFs (exchange-traded funds through which Bitcoin is bought like a regular stock) showed an outflow of $643.3M on Friday, October 31 - the largest in four months.
Bitcoin gained about 1% to ~$78,600 in Monday morning hours and is closing its third straight day of gains - even as a week ago Binance disclosed a $6.3B theft, the largest in crypto exchange history.
Binance resumed withdrawals after the largest crypto hack in history at $6.3 billion and in the first nine and a half hours paid out a net $3.64 billion. The exchange itself calls this 2.1% of its assets.
On November 1, Binance gradually reopened crypto asset withdrawals, which had been halted after the largest hack in crypto market history - damage is estimated at $6.3 billion. The exchange states that it has already reimbursed about 95% of the affected assets from its own resources and will not pass the losses on to clients.
The American Federal Bureau of Investigation has officially named a group linked to the DPRK as the culprit behind the Binance hack last Thursday. About $6.3 billion in digital assets was stolen - this is the largest theft in the history of the crypto market.
After $6.3 billion was stolen from the exchange's wallets, Binance stated that it has returned about 90% of the withdrawn assets and aims to resume operations on November 1. Full cryptographic proof of reserves is promised by November 3.
