BigBreakingWire

$2.5 Billion Binance Heist Exploited Ethereum's EIP-7702 Feature, Hackers Paid Just $15 in Fees

Hackers used an Ethereum EIP-7702 permission to transfer approximately $2.5 billion from Binance in a single transaction, paying just $15 in fees.

The permission allowed attackers to continue draining a hot wallet even after Binance halted withdrawals.

Bloomberg reported that the single transfer accounted for around 40% of the record $6.3 billion theft.

Binance said it revoked the malicious delegation and rebuilt the affected infrastructure to prevent further unauthorised access.

The FBI attributed the record heist to North Korea's TraderTraitor group. Pyongyang rejected the accusation, calling it "a trite provocation".

Key takeaway: The attack highlights how a compromised wallet delegation can enable massive losses despite emergency withdrawal restrictions, raising fresh concerns over crypto infrastructure security.

South Korea Waives Margin Loan Collateral Rules for 3 Months as Asian Stock Selloff Deepens.

The move aims to prevent forced liquidations as the KOSPI triggers a circuit breaker and Japan’s Nikkei 225 enters a technical bear market.

SK Hynix and TSMC face heavy selling amid concerns over tighter US AI data centre regulations.

Saxo Bank warns that forced liquidations could trigger a vicious cycle of falling prices and further selling.

$SKHY $KORU

South Korea Eases Margin Trading Rules for 3 Months After Market Crash; MSCI Demands Further Reforms.

South Korea will temporarily waive the 140% collateral requirement on securities firms' margin loans from November 9 to prevent forced selling and stabilise markets.

Authorities say local equities have overreacted to global concerns over AI policies and weak investment sentiment.

Meanwhile, MSCI says South Korea must fully implement regulatory reforms before it can be upgraded from emerging market to developed market status.

Reforms include 24 hour FX trading, wider English disclosures and measures to improve shareholder returns.

Saudi Aramco Cuts December Asian Crude Prices to Lowest Level Since May 2020.

Arab Light price is cut by $2 per barrel to a discount of $6.50 against the Oman/Dubai benchmark.

Prices for Northwest Europe and Mediterranean customers are also reduced by $1 per barrel, while US prices remain unchanged.

Weaker Asian refining margins and recovering crude exports are driving the price cuts.

HSBC expects Saudi oil production to rise to 8.3 million barrels per day in Q4 2026 and reach around 10 million bpd by mid 2027.

Asian Tech Stocks Plunge as AI Investment Fears Trigger Broad Selloff.

South Korea’s KOSPI crashes over 8%, triggering circuit breakers, while Japan’s Nikkei 225 plunges nearly 7%.

Chipmakers and data centre equipment suppliers face heavy selling as fears of tighter AI regulation and slowing infrastructure spending spread across global markets.

The selloff follows Wall Street’s sharpest equity decline since the tariff driven market crash around 18 months ago.

$SKHY $KORU

US Data Centre Boom Faces Growing Political Opposition After Midterm Elections.

Newly elected governors in Ohio, Georgia, Michigan, New Mexico and Texas have pledged to pause or halt data centre construction.

Around 40% of planned US data centre capacity is located in states considering regulatory restrictions, according to Cleanview.

Meanwhile, 46 local ballot measures restricting data centre development have passed or are expected to pass, with at least 17 seeking outright bans on large projects.

Growing opposition could threaten the expansion of US AI infrastructure and put pressure on the broader technology supply chain.

$NVDA $META

US Treasury Bonds Rise as Midterm Results Raise Hopes of Lower Government Borrowing.

10 year Treasury yield falls to 4.84%, its lowest level since September 10. Yields across all maturities decline by at least 3 basis points.

Investors expect tighter political constraints on government spending to limit Treasury issuance and reduce the fiscal deficit.

The US dollar index falls 0.2%, while copper gains in Asian trading amid mixed signals over future AI infrastructure demand.

Samsung and SK Hynix Fall Sharply on AI Regulation Concerns as Gold Rises Above $4,130.

South Korean chipmakers slide as investors worry tighter US regulations could slow new data centre projects.

However, analysts expect limited impact on ongoing investments, existing supply contracts and earnings.

Meanwhile, gold jumps over 1.7% to $4,130 per ounce as US Treasury yields decline. Silver also gains.

$SAMSUNG $SKHY

Binance Sees $4.7 Billion in Net Outflows After Hack as Withdrawals Resume; FBI Blames North Korean Hackers.

Around $3.64 billion flowed out after withdrawals reopened on Sunday.

Binance says it has replenished approximately 95% of the stolen assets using company funds.

Fiat withdrawals are now supported across 28 currencies, but heavy outflows highlight lingering concerns among users.

$BNB $BTC

CITIC Securities Sees Potential US Tech Rebound After Midterms, Favors Semiconductor Stocks.

The firm says recent semiconductor selling was driven more by liquidity pressures and election uncertainty than weakening AI optimism.

Semiconductor hardware is its preferred exposure.

CITIC also favours oil, copper, gold, coal and electrolytic aluminium.

$SKHY $NVDA $KORU

South Korea’s October Exports Surge 93.7% as Semiconductor Shipments Soar 259% to $56.4 Billion.

Working-day-adjusted exports hit $115.3 billion, while computer exports jumped 497%.

Imports rose 36%, generating a $42.5 billion trade surplus.

The export boom strengthens expectations of a Bank of Korea rate hike this month.

$KORU $SKHY

JUST IN: Binance Targets November 1 for Phased Withdrawal Resumption After $6.3 Billion Crypto Heist.

The exchange says 80% of stolen assets have been replenished, with Circle and Tether freezing portions of the funds.

Bitcoin hits a six-week low, while US spot Bitcoin ETFs record $643 million in daily outflows, their biggest since June.

Coinbase adjusts offline key storage and Kraken reviews security measures following the breach.

$BTC $BNB

Nasdaq Futures Plunge 2% as Intel Crashes 23% and Amazon Drops 7.7%, Triggering AI Stock Sell-Off.

Nvidia falls 2.5%, Micron 4.4%, Oracle 4% and AMD as much as 7%.

SK Hynix declines 5%, while Dell drops nearly 7% and HP and HPE lose around 6%.

Intel warns PC shipments could fall 12% in 2026, including a decline of over 20% in H2.

Apple and Eli Lilly buck the broader weakness.

JUST IN: Binance Suspends All Deposits and Withdrawals After Suspected Security Breach; $2.54 Billion in Assets Frozen.

The world’s largest crypto exchange says it will cover all user losses and is working with law enforcement.

Arkham identified suspected attacker-linked wallets holding $5.9 billion in digital assets, not necessarily stolen funds.

Bitcoin falls below $77,000, hitting its lowest level since September, as crypto markets sell off.

Fed Holds Interest Rates at 3.75%–4% as Two Officials Push for a 25-Basis-Point Hike

- The Federal Reserve kept its benchmark interest rate unchanged at 3.75%–4%, with the decision passing by a 10–2 vote.
- Fed Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, favouring a 25-basis-point rate increase. It was Cook’s first dissenting vote since joining the Fed’s Board of Governors.
- The decision gives policymakers more time to assess whether rising energy costs and the AI infrastructure investment boom could fuel broader inflation.
- The Fed’s policy statement maintained its focus on bringing inflation back to its 2% target, saying additional economic data would help determine the appropriate policy stance.
- The decision leaves the possibility of another rate hike in December open, with policymakers continuing to assess inflation risks.
- Cook’s dissent comes as the White House investigates her personal mortgage history amid President Donald Trump’s efforts to remove her from the Fed.

Key takeaway: The Fed held rates steady, but two officials’ calls for a hike signal continued concern about inflation and leave further monetary tightening on the table.

Wolf Research Sets $250 Target for SK Hynix, Sees Buybacks Potentially Equal to 28% of Shares.

The firm reiterates its Outperform rating, citing strong AI-driven HBM demand and rising memory prices.

SK Hynix trades at just 4.5x earnings under Wolf’s optimistic scenario.

Projected two-year free cash flow could fund buybacks equivalent to 28% of outstanding shares, subject to execution.

$SKHY $KORU

SK Hynix Posts Record KRW 83.3 Trillion Quarterly Operating Profit as AI Boom Fuels Chip Shortages Through 2030.

Revenue hits KRW 104.6 trillion, beating estimates of KRW 98.3 trillion.

DRAM and HBM capacity through 2029 is fully sold out, while server DDR5 shipments jump over 40% quarter-on-quarter.

The company announces an additional KRW 100 trillion shareholder-return programme for 2026.

$SKHY $KORU

Asian Chip Stocks Rally as South Korea’s GDP Grows 1% in Q3, Beating 0.7% Estimates.

South Korea’s KOSPI jumps nearly 4%, while Japan’s Nikkei 225 rises almost 2%.

SK Hynix gains nearly 7%, Samsung Electronics rises over 4%, and Advantest climbs 7.3%.

South Korea’s exports rise 2.3% and equipment investment grows 4.1%, driven by strong semiconductor demand.

Private consumption falls 0.2%, highlighting persistent domestic-demand weakness.

JUST IN: Anthropic Files IPO Documents, Plans Nasdaq Listing Under Ticker “ANT.”

CEO Dario Amodei earned nearly $18 million in 2025, while President Daniela Amodei received $16.4 million.

Reports suggest a potential $1.5–$2 trillion IPO valuation, with Goldman Sachs and Morgan Stanley leading a 22-bank underwriting syndicate.

Anthropic also disclosed major AI infrastructure commitments, including a reported $125 billion Broadcom-related lease.

$ANTHROPIC $NVDA $QQQ

SK Hynix Eyes KRW 50–60 Trillion in Additional Shareholder Returns as Morgan Stanley Warns of 15% Semiconductor Downside.

Combined returns could reach KRW 100 trillion this year, including a reported KRW 40 trillion share cancellation.

Morgan Stanley sees the Philadelphia Semiconductor Index potentially falling to 9,500.

The bank expects the correction to approach its final phase by mid-November.

$SKHY $NVDA $SOXL