⚡️ JUST IN: Binance is working with the FBI and US Secret Service after a $6.3 billion crypto heist.

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⚡️ JUST IN: Binance allocates $6.34B to cover losses from historic hack

The exchange says it has secured $5B in affected tokens and is buying the remaining $1.34B to match lost assets.

➡️ Around $3B in affected assets has been frozen, with recovery efforts ongoing.

➡️ Additional funds are being traced and recovered with law enforcement and industry partners.

➡️ Binance says all user funds will be verified publicly through Proof of Reserves.

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⚡️ JUST IN: There is currently no evidence that AI was used in the Binance hack.

Absolute Security’s Andy Ward warns that even larger breaches with greater financial consequences could follow.

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⚡️ JUST IN: Strategy $MSTR says leading institutions are meeting regularly and supporting Bitcoin security research.

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⚡️ JUST IN: On the Binance hack, CFTC Chairman Michael Selig said the CFTC wants to offer exchanges a federal registration option first.

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⚡️ JUST IN: Strive ASST CEO Matt Cole says Bitcoin held up remarkably well after the Binance hack.

He says the biggest crypto hack ever does not change Bitcoin's investment case over a reasonable holding period and expects it to rise over 6 to 9 months.

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⚡️ JUST IN: After a reported hack exposing customer names and emails, Chainalysis told customers the attacker used “offensive agentic techniques,” unrelated to the $6.3B Binance heist.

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⚡️ JUST IN: Trump says he is looking at the Binance hack.

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⚡️ JUST IN: CFTC Chairman Selig says a federal registration option for crypto exchanges would bring safeguards protecting US derivatives markets from cyber and other risks for decades.

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Last cycle, BTC was declared “dead” 5 times as it rallied from $15,600 to $126,000.

The same script has started again.

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⚡️ JUST IN: A wallet labeled as the Binance hacker moved 120 million TRX worth $38.5 million, and the tokens were moved again within minutes and split across multiple addresses, according to Arkham.

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😧 Trezor Flags Safe 5 Spy Module

Trezor said a possible spying module was found in a Safe 5 wallet bought in August through former reseller CryptoBilis. A user in Indonesia sent photos and a description.

An extra board with a cellular module and antenna allegedly read the recovery phrase from the screen and sent it over a mobile network when the wallet was powered.

Trezor has not verified the module or received the device for lab testing. It knows of no stolen funds. Similar inserts were found in Ledger wallets sold through CryptoBilis, which Trezor parted ways with on 9 October. This remains one unverified case.

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⚡️ JUST IN: Binance is in talks with Malaysian regulators for a license after five years out of the market, despite authorities blocking its website and apps.

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⚡️ JUST IN: Nasdaq-listed Next Technology Holding $NXTT may sell $450 million in Bitcoin over the Binance hack and quantum fears.

The company says none of its 5,833 BTC are held at Binance, citing exchange security and quantum computing risks in authorizing sales or loans.

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⚡️ JUST IN: Crypto industry spending on US midterms tops $200 million. Fairshake backed 58 candidates in primaries or special elections, and 53 won.

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⚡️ JUST IN: Binance says 90% of $6.3B in hack losses has been replenished, with 10 major assets fully backed.

➡️ BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are reportedly 100% backed.

➡️ The remaining 10% consists of less liquid tokens still being acquired through market and OTC channels.

➡️ Replenishment draws on SAFU, the Futures insurance fund and corporate treasury.

A Proof of Reserves snapshot was taken on October 31. Zero-knowledge verification is expected by November 3. Withdrawals are scheduled to resume on November 1.

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