TheNewsCrypto

China’s central bank says Solana’s Shanghai advertising campaign violated existing cryptocurrency rules and has launched an investigation into the domestic parties involved.
Authorities stopped the Solana Accelerate China 2026 event on October 16. The PBOC has not named those under investigation or announced penalties.
China’s central bank has confirmed that authorities stopped a planned Solana event in Shanghai and will investigate the companies and individuals involved in promoting the blockchain network in the country.
A People’s Bank of China (PBOC) official said on November 6 that Solana had used domestic companies to advertise its brand and native SOL token. The promotional campaign included an advertisement displayed on the exterior wall of Citigroup Tower in Shanghai’s Lujiazui financial district.
The comments were published by Financial Times. According to the report, the PBOC worked with local financial regulators, police and market supervision authorities to stop the planned Solana Accelerate China 2026 event before it began.
The central bank will now investigate the domestic entities and individuals connected to the promotional activities. However, the official did not identify the parties under investigation or announce any penalties.
PBOC Cites February 2026 Cryptocurrency Restrictions
The official said Solana’s promotional activities violated China’s existing cryptocurrency rules. The PBOC considers SOL a virtual currency and also pointed to Solana’s blockchain services supporting the issuance and trading of other digital assets, including Tether’s USDT stablecoin.
The central bank cited a regulatory notice issued in February 2026 by eight Chinese government agencies. The notice classifies cryptocurrency-related business activities as illegal financial activities in mainland China. It also prohibits internet companies from providing advertising, marketing, commercial display and other promotional services for virtual currency-related businesses.
Solana’s Shanghai event was scheduled for October 16 at the Shangri-La Hotel. Organizers initially told attendees that the gathering had been postponed because of last-minute venue logistics.
Solana Foundation President Lily Liu later said registrations had quadrupled overnight following publicity surrounding the event, exceeding the attendance limit registered with local authorities. She cited crowding concerns and local requirements as the reason for the postponement.
We put Solana on the big screen because that’s the big heart Solana has for the Chinese community, and that’s the warm welcome we are so thankful to feel from the Chinese community. Due to the publicity, event registrations quadrupled overnight, far exceeding the event cap we had registered with local authorities, and we had no way to prevent people from overwhelming the venue. So, in order to comply with local requirements, we are going to postpone this event for when we can better accommodate the breadth and scale of our community. Apologies to everyone who came from near and far to come be part of Solana in Shanghai. See you soon!
— Lily Liu (@calilyliu) October 16, 2026
The PBOC’s latest comments, however, confirm that regulatory authorities intervened to stop the gathering.
China has maintained restrictions on cryptocurrency trading and related financial services since 2021. The November 6 announcement does not introduce a new nationwide ban on Solana. Instead, it signals further enforcement against domestic cryptocurrency businesses and local entities connected to overseas platforms.

Zcash activated NU7 at block 3,543,405, reducing its target block interval from 75 seconds to 25 seconds and increasing potential shielded transaction capacity.
The upgrade redirects 60% of transaction fees into a future mining reward reserve and makes approximately 12,224 ZEC in the legacy Sprout pool unspendable.
Zcash has activated its NU7 network upgrade on mainnet, introducing faster block production and changes to how transaction fees support the network’s long-term security.
The upgrade went live at block height 3,543,405 on November 6 at 02:34 UTC, according to blockchain tracking data. It reduces the target time between blocks from 75 seconds to 25 seconds, allowing transactions to receive their first confirmation more quickly.
(Source: ZecBlock)
The change could make Zcash payments more practical for everyday transfers, exchange deposits and merchant transactions. However, the actual time users wait will depend on network conditions and the confirmation requirements set by individual services.
NU7 also introduces changes to the network’s shielded transaction system, which allows users to send ZEC without publicly revealing the sender, recipient or transaction amount.
NU7 Changes Transaction Fees and Retires Legacy Privacy Pool
One of the major changes involves the Network Sustainability Mechanism (NSM). Under the new rules, miners receive 40% of transaction fees, while the remaining 60% goes into a reserve intended to support future mining rewards.
The reserve will not immediately distribute rewards. Its scheduled reissuance is expected to begin around February 2031, at block height 8,939,664. The mechanism is designed to provide an additional source of mining incentives as regular block subsidies decline.
The upgrade also retires Zcash’s original Sprout privacy pool, introduced when the network launched in 2016. Version 4 transactions are now invalid, making approximately 12,224 ZEC remaining in Sprout unspendable through the existing protocol. No approved recovery mechanism is currently available.
Meanwhile, NU7 introduces limits on shielded transactions per block to reduce the amount of blockchain data wallets must download when searching for private payments. The changes could increase the capacity for simple Orchard transactions from approximately 2.9 to 6.6 transactions per second.
Despite the faster block schedule and revised fee system, Zcash’s maximum supply remains unchanged at 21 million ZEC. The upgrade also adjusts the block subsidy to maintain the same daily issuance.
NU7 marks a major change to Zcash’s transaction processing and mining economics, with the network now operating under its new consensus rules.

Singapore Blockchain Week (SBW) returns from 13 to 17 November 2026. It is a government-supported flagship event, bringing together a coalition of regulators, financial institutions, sovereign entities, family offices, founders, investors, enterprises, and ecosystem builders to shape the next phase of the new economy.
Featuring a stellar line up of thought leaders and industry speakers including H.E. Justin Sun – Founder of TRON; Jose Fernandez da Ponte – President, Stellar Development Foundation; Hang Jia – Executive Chairman of DCS Group (Diners Club Singapore); Shun Ishikawa : Co-Founder of Startale Group; Matthew Dawson – Co-founder of Ethereum Institutional; Wee Siang Lee – Executive Director of Paxos; Rahul Bhargava – Senior Financial Sector Consultant of World Bank and Interim Chief Operating Officer of Contour Network. ; Nischint Sanghavi – Head of Digital Currencies, Asia Pacific of VISA; Jasoria Advait – Vice President of Kinexys by J.P. Morgan, Albina Gaisina – Blockchain and Digital Innovation Analyst of United Nations Development Programme, Stéphanie Cabossioras – Chief Strategy & Global Policy Officer of Société Générale-Forge, Inmooo Hwang, CEO – ADDX, Kevin Kang – Co-Founder of Reap, Annabelle Huang – Co-founder and CEO, Altius Labs and Venture Partner of Amber Group, Kiran Mistry – Regional Head of Financial Services of Asia Pacific, Japan & China, SAP and CK Ong – Acting CEO of SBI Digital Markets.
A Cross-Border Platform for the Next Financial and Digital Era
SBW 2026 is uniquely positioned as the world’s first cross-border blockchain week, connecting Singapore and Malaysia’s Johor–Singapore Special Economic Zone (JS-SEZ) to accelerate innovation, investment and technology collaboration across Southeast Asia, with support from partners including Singapore Global Network – Economic Development Board, Singapore Tourism Board, Malaysia Digital Economy Corporation, Iskandar Regional Development Authority, Johor Corporation, etc.
SBW 2026 will spotlight the convergence of emerging technologies and financial systems through the following :
November 13 (Friday): Special Economic Zone Immersion
November 14 (Saturday): Tech-Enabled Sports
November 15 (Sunday): Learnathon
November 16 (Monday): Inner Circle
November 17 (Tuesday): Institution Summit
Commenting on the premier government-supported event, Sebastian Zilliacus – Chair of Singapore Blockchain Week 2026 Advisory Committee, said,
“When leaders from Visa, J.P. Morgan, Sony, SAP, the United Nations Development Programme and the world’s leading blockchain foundations choose to gather in the same week, it signals how far this industry has come. Our role is to make sure that the week produces more than headlines. We want Singapore Blockchain Week to be where traditional finance and emerging technology stop talking past each other and start building together.”
CK Ong, Acting Chief Executive Officer of SBI Digital Markets; Strategic Partner of Singapore Blockchain Week 2026, commented,
“The question for tokenisation is no longer whether the technology works, but whether the market around it does. Pilots become production when regulatory clarity, distribution, custody and commercial viability line up. Regulated players like SBI Digital Markets, who structure and distribute these products, have a real role in building that market, and Singapore Blockchain Week is where we, the regulators and institutions can align.”
Singapore Blockchain Week serves as a strategic platform for advancing the convergence of Artificial Intelligence (AI), Decentralized Finance (DeFi), Real World Asset (RWA) and Venture Capital (VC) and positioning Singapore and the wider ASEAN region at the forefront of global digital transformation.
The South East Asia gateway aims to foster meaningful dialogue, institutional adoption, and cross-border partnerships through a week of conferences, summits, roundtables, exhibitions, networking sessions, and ecosystem activations. These themes reflect growing institutional interest in blockchain-powered infrastructure and the convergence of traditional and emerging technologies.
Experience the Future of Digital Economy
SBW 2026 aims to serve as a high-level convening point for both public and private sector leaders to explore regulatory frameworks, investment opportunities, and technological innovation shaping the next generation of financial systems.
Kiran Mistry – Regional Head of Financial Services of Asia Pacific, Japan & China, SAP who is co-hosting the Inner Circle Round Table Segment of Singapore Blockchain Week 2026—added,
“For the digital economy to truly scale, emerging technologies like blockchain and real-world assets must seamlessly connect with the enterprise backbone. At SAP, we believe the next era of financial innovation is about interoperability, bridging decentralized finance with core enterprise systems to deliver real-time treasury visibility, secure cross-border settlements, and tangible business value for institutions.”
“​Supply chains cannot unlock optimal velocity or liberate trapped working capital while trade finance remains paper-bound and disconnected from modern settlements. As the first global, multilateral trade finance platform on blockchain, Contour has been processing live commercial Letters of Credit digitally since 2021. We are bridging this divide and actively addressing the $2.5 trillion trade finance gap through AI-assisted operations, pre-validation against Infocomm Media Development Authority’s TradeTrust and Global Legal Entity Identifier Foundation (GLEIF) standards, and flexible multi-rail settlements, delivered through an accessible, open-utility model. From Contour and XDC Network’s home base in Singapore, the Inner Circle Roundtable and Singapore Blockchain Week offer the ideal stage to review with global industry experts how a convergent and streamlined digital trade-to-settlement experience can help unlock supply chain velocity at scale. ”
said Rahul Bhargava – Senior Financial Sector Consultant of the World Bank and Interim Chief Operating Officer of Contour Network.
Singapore Innovation Centre, the organiser brings practical experience in bringing Web3 innovation to real-world applications, including agentic commerce and ticketing, Web3-powered human-layer running experiences, and stablecoin payments for merchandise. These initiatives demonstrate how blockchain can move beyond theory into tangible use cases that connect businesses, institutions, and communities.
Through curated programming and cross-border engagement, the event is designed to strengthen collaboration between traditional finance and emerging decentralized ecosystems, while supporting responsible innovation across the region.
Raymond Ngan – Managing Director of Singapore Innovation Centre, which manages the intellectual property of Singapore Blockchain Week, commented,
“This flagship event serves as a strategic platform to connect institutions, enterprises, investors, and technology innovators in shaping the future of the digital economy. With Singapore as a regional gateway and the Johor–Singapore Special Economic Zone creating new opportunities for cross-border collaboration, we aim to strengthen Singapore and Southeast Asia’s position in the global digital economy, particularly as Singapore prepares to assume the ASEAN Chairmanship in 2027.”
For more information and event registration, please visit : https://www.singaporeblockchainweek.org
About SBI Digital Markets
SBI Digital Markets is a subsidiary of SBI Digital Asset Holdings, the digital asset arm of Japan’s leading conglomerate SBI Group. With the largest securities account customer base and second-largest trading market in Japan, SBI Group has a global network across 26 countries and regions including key markets in Asia and Europe.
SBI Digital Markets offers clients a comprehensive digitalisation framework from origination, tokenisation, and distribution to custodian services across traditional and Web 3 securities products.
For more information, please visit : https://sbidm.com
About SAP
SAP is a global leader in enterprise applications and business AI. We help organizations run mission-critical operations across finance, procurement, supply chain, human resources, and customer experience, moving from systems that record work to systems that can help execute it. Our goal is to be the #1 Business AI company, powering the Autonomous Enterprise. Our partners amplify SAP’s value through solution innovation, deep product expertise, world-class services, and more. For over 50 years, organisations have trusted SAP  to bring out their best by uniting business-critical operations spanning finance, procurement, HR, supply chain, and customer experience. The company has 110,000+ employees from 157+ countries, €36.8 billion total revenue (non-IFRS) in FY2025, 300m+subscribers in our cloud user base, 100+ development locations worldwide, AAA for MSCI ESG rating (Environmental, Social and Governance) Top 5% on S&P ESG Score.
For more information, please visit http://www.sap.com
About Contour Pte Ltd
Contour Network is a digital trade finance network connecting banks, corporates and technology partners to modernise global trade through blockchain technology and digital documentation. Its institutional ecosystem includes leading financial institutions such as HSBC, Standard Chartered, BNP Paribas, Bangkok Bank, DBS, ICBC and Bank of China, alongside corporates including Tata Steel, Tata International and United Tractors.
With strategic backing from XDC Ventures, Contour is exploring stablecoin-enabled settlement, cross-border payments and programmable trade finance through its Stable-Coin Lab. By bridging traditional banking infrastructure with blockchain innovation, Contour is advancing more transparent, efficient and connected trade finance solutions for global commerce.
For more information, please visit https://www.contour.network
About Singapore Innovation Centre
Singapore Innovation Centre is a platform focused on innovation, enterprise development, and industry collaboration, supporting businesses in areas including innovation planning, digital transformation, industry partnerships, and market development.
At the early stage of its formation, the Centre championed Singapore Food United e-commerce platform endorsed by Singapore Food Manufacturers’ Association and officially launched in the presence of Singapore’s Minister for Trade and Industry. Commissioned by Workforce Singapore – Ministry of Manpower, to conduct Industry Catalyst Programmes to support enterprise capability development. In recent years, supporting vibrant heartland businesses in industry engagement and digitalisation under appointment by Federation of Merchants’ Associations Singapore supported by Enterprise Singapore.
The organisation also manages the intellectual property of three government-supported, industry-led flagship platforms: Singapore Artificial Intelligence Week, Singapore Blockchain Week, and Singapore Sustainability Festival. These platforms serve as catalysts for emerging technologies, enterprise innovation, and cross-sector ecosystem collaboration.
For more information, please visit https://www.singaporeinnovationcentre.com
Media Contact
Mr. Andy Zhang Singapore Innovation Centre Email : management@singaporeinnovationcentre.com Mobile: +65 8959 2812
Ms. Faralynn Wong Asia Investor Relations Email: faralynn@asiainvestorrelations.comMobile: +65 8308 1616
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Hyperliquid Strategies has applied for CFTC Futures Commission Merchant registration through a subsidiary to handle U.S. customer accounts for permissioned perpetual futures markets under HIP-3*.
The company reported $620.6 million in Q3 net income, largely driven by $803 million in unrealized HYPE gains, while quarterly revenue stood at $13.3 million.
Hyperliquid Strategies (NASDAQ: PURR), one of the largest corporate holders of Hyperliquid’s HYPE token, has applied for U.S. regulatory approval to handle customer accounts for perpetual futures markets built on the network. The move comes as the company reported $620.6 million in net income for the third quarter of 2026.
In its November 5 financial results, the company confirmed that a subsidiary had filed an application with the U.S. Commodity Futures Trading Commission (CFTC) to register as a Futures Commission Merchant (FCM).
If approved, the subsidiary would carry U.S. customer accounts for permissioned markets launched under Hyperliquid’s proposed HIP-3* framework. The system would allow independent operators to create and manage their own markets using Hyperliquid’s on-chain infrastructure, while the proposed FCM would provide a regulated structure for handling customer accounts.
JUST IN: Hyperliquid Strategies (NASDAQ: PURR), the largest publicly listed HYPE treasury firm, has filed an application for a subsidiary to become a U.S. Futures Commission Merchant (FCM). The company reported $620.6 million in net income for the quarter ended September 30, 2026, largely driven by $803 million in unrealized gains on its $HYPE holdings. If approved, the subsidiary would handle U.S. customer accounts for permissioned perpetual futures markets on Hyperliquid under its HIP-3* framework. #Hyperliquid #HYPE #PURR
— TheNewsCrypto (@The_NewsCrypto) November 6, 2026
The company has not provided a confirmed approval or launch date. It also warned that there is no guarantee about the timing or outcome of the application or the regulatory approval of individual markets.
HYPE Holdings Drive Quarterly Profit Above $620 Million
Hyperliquid Strategies reported $13.3 million in revenue for the quarter ended September 30, including $12.3 million from staking and validator commissions and $1 million in interest income.
However, its $620.6 million net income was largely driven by an $803 million unrealized gain on its HYPE holdings. These gains reflect an increase in the value of tokens the company continued to hold, rather than profits generated from selling them.
The company also recorded a $172.3 million income tax provision and $15.3 million in expenses, primarily related to its committed equity facility.
Its HYPE treasury reached approximately 38.52 million tokens by September 30, valued at $3.505 billion using a token price of $90.99. During the quarter, it raised $911 million in equity capital and spent $785 million acquiring 9.1 million HYPE tokens. It also repurchased 2.7 million PURR shares for $17 million.
At quarter-end, the company reported $254.6 million in cash and cash-like assets, $3.4 billion in shareholders’ equity and no debt.

Seoul, South Korea, November 5th, 2026, Chainwire
With phased rollout targeted for the first half of 2027, the service is expected to connect LINE FRIENDS’ online and offline commerce with the Web3 ecosystem, offering customers in Korea and abroad an additional payment option for purchasing physical products with minicoin
Digital IP entertainment company IPX (formerly LINE FRIENDS) plans to introduce a payment service using ‘minicoin’ at LINE FRIENDS online and offline stores. The service is intended to make digital asset payments a seamless extension of the fan experience, linking fans’ engagement with character IP to the point of purchase and connecting IPX’s online and offline commerce with a Web3-based digital ecosystem.
For more than a decade, IPX has brought its character IPs to life through products, content, and pop-ups, extending these experiences across online and offline channels worldwide. Building on its expertise in IP and retail, the introduction of this service presents a new digital IP commerce model that integrates digital asset payment technology into IP merchandise purchases.
Minicoin is a utility coin developed and issued by Mini Labs under an official license granted by IPX to use its globally popular ‘minini’ character IP. Its blockchain-based ecosystem seeks to transparently record activities generated through interactions between IP and fans, including creation, consumption, and transactions, and link them to registration and settlement processes.
The minicoin payment service is planned for phased rollout across LINE FRIENDS stores in Korea and abroad, with a rollout targeted for the first half of 2027. The service is expected to offer international visitors and overseas fans additional payment options. K-POP SQUARE, which opened in the heart of Seoul’s Hongdae district in June 2025, welcomed over one million visitors in its first year, approximately 80% of whom were international fans from more than 90 countries. As digital assets gain traction as payment methods worldwide, the service is expected to see strong demand.
“This service rollout marks an important step toward using digital assets to purchase physical merchandise, beyond trading and use within specific platforms,” said an IPX official. “We believe that the value of IP can grow further as it expands beyond connecting with fans through content and products to finding new ways to engage with them across the digital IP ecosystem. We will continue to explore new IP business opportunities that connect IP, fans, and commerce together in this evolving landscape.”
About IPX (F.K.A. LINE FRIENDS)
IPX is the new corporate name of LINE FRIENDS, a global character brand that started with original characters including BROWN, CONY, and SALLY, created for use as stickers for the leading mobile messenger app LINE and its 200 million active users worldwide. IPX has announced a new business strategy that it would accelerate the global expansion of its IP businesses by diversifying its IP portfolios targeting all ages and advancing its digital and retail business. IPX provides diverse IP experiences including BT21(BTS), ZO&FRIENDS(G-DRAGON), minini, and JOGUMAN. It has also carried out its IP-based business by partnering with global companies including Netflix (original animated series) and HoYoverse (Genshin Impact) to win the hearts of over 50 million Millennials and Generation Z worldwide. IPX currently operates in 18 markets worldwide, including Seoul, New York, LA, Tokyo, and Shanghai, and operates on 8 online sales platforms.
Contacts
ManagerJiwoo HongBursonjiwoo.hong@bursonglobal.comSr. DirectorHanna ParkBursonhanna.park@bursonglobal.com

South Korea is seeking to delay its 22% cryptocurrency gains tax from January 2027 to January 2029, pending approval from the National Assembly.
The government also plans to introduce a three-year loss carryforward provision, allowing investors to offset eligible past losses against future crypto gains.
South Korea plans to push back its cryptocurrency tax by another two years, moving the proposed implementation date from January 2027 to January 2029. The government announced the plan on November 5, citing gaps in overseas transaction reporting and the need for more time to prepare its digital asset regulatory framework.
Finance and Economy Minister Lee Hyeong-il said the government would work with the National Assembly to amend the existing tax law. If lawmakers approve the change, it will mark the fourth postponement since South Korea first introduced the tax plan in 2020.
Under the existing framework, individuals would pay a 20% national income tax plus a 2% local income tax on annual cryptocurrency gains exceeding 2.5 million won (approximately $1,869). The rules cover income from transferring or lending virtual assets.
JUST IN: South Korea delays its planned cryptocurrency tax until 2029, pushing implementation back by two years from the previously scheduled January 2027 start. The Finance Ministry confirmed the delay, marking the fourth postponement of the crypto tax. #SouthKorea #Crypto #Tax
— TheNewsCrypto (@The_NewsCrypto) November 5, 2026
The government said beginning taxation before international crypto transaction data becomes available could put South Korean investors and domestic exchanges at a disadvantage compared with overseas markets.
South Korea is scheduled to begin exchanging crypto-asset tax information with the United States in 2029 under the OECD-backed Crypto-Asset Reporting Framework (CARF). The government wants to use that system to improve its ability to identify overseas transactions and calculate taxable income.
Government Also Plans Three-Year Loss Carryforward
Alongside the proposed delay, the government plans to introduce a three-year loss carryforward provision for cryptocurrency investors.
Under the current rules, investors can offset gains and losses within the same tax year but cannot carry unused losses into future years. The proposed change would allow eligible losses to be deducted from gains in subsequent years, for up to three years.
The government also plans to establish a public-private working group involving industry representatives, experts and officials to review tax rules, reporting requirements and filing procedures.
The group is expected to work through the first half of 2027. The government plans to submit the necessary legislative amendments during the National Assembly’s regular session that year and publish detailed tax guidelines in the first half of 2028.
The proposed January 2029 start is not yet legally final. South Korea’s National Assembly must approve the required amendments before the new timetable takes effect.

India’s CERT-In identified CRAFTY FALCON in an active AI-assisted cyberattack campaign targeting crypto exchanges and financial firms.
The agency reported crypto wallet key theft and fund transfers, warning organisations to strengthen cloud security, API monitoring and wallet protection.
India’s cybersecurity agency CERT-In has issued a critical warning about an active hacking campaign targeting cryptocurrency exchanges and financial institutions, with attackers using artificial intelligence (AI) tools to steal wallet keys and transfer funds.
In its November 4 advisory, identified as CIAD-2026-0058, the Indian Computer Emergency Response Team named the threat actor “CRAFTY FALCON” and said the attacks were continuing to escalate. The campaign also targets non-banking financial companies (NBFCs), digital lending platforms, fintech firms, payment aggregators and payment service providers.
BREAKING: India’s CERT-In warns that AI-powered hackers are targeting crypto exchanges, stealing wallet keys and siphoning funds. The agency identified the threat actor as “CRAFTY FALCON” and said the attacks remain active and escalating. CERT-In has urged exchanges to strengthen security and maintain 24/7 monitoring. #CERTIn #CyberSecurity #Crypto #India
— TheNewsCrypto (@The_NewsCrypto) November 5, 2026
CERT-In said its financial-sector response team, CSIRT-Fin, had received reports of successful attacks, including against organisations that had already been warned and attempted to fix security weaknesses. Some were targeted again after incomplete remediation, while attackers timed operations around weekends and holidays when security teams may have fewer staff monitoring systems.
Four AI tools identified in the campaign
The advisory names four publicly available tools used in the attacks: ARTEX, PentAGI, Cairn and CyberStrikeAI. According to CERT-In, these tools can automate attack sequences, generate and refine customised scripts, and adjust their methods based on how target systems respond. The attackers also rotate their supporting infrastructure’s IP addresses within hours or days, making detection more difficult.
The agency described several methods used to break into financial systems. Attackers have exploited exposed testing environments, misused cloud services and made unauthorised requests to payment APIs through modified applications. In some cases, they sent small test payments, including transactions worth just ₹1, to check whether unauthorised transfers would work before attempting larger amounts.
(Source: CERT-In)
CERT-In specifically reported that cryptocurrency exchanges and virtual digital asset service providers had been targeted, with wallet keys stolen and funds siphoned from wallets. However, the advisory did not identify affected exchanges or disclose the total amount stolen.
The agency has urged financial firms to maintain round-the-clock security monitoring, strengthen transaction checks and store crypto wallet keys in hardware security modules or cold storage. It also recommended multisignature approval for withdrawals and immediate key rotation if a compromise is suspected.

Polygon proposed a hard fork to recover 70.49 million POL, worth approx. $6.5 million, from five blocked addresses.
The funds would be transferred to recovery wallets designated by Binance and Polymarket, pending governance approval and a network upgrade.
Polygon is considering a hard fork that would transfer approximately 70.49 million POL, worth around $6.5 million at the reference price used in the proposal, from five blocked addresses to recovery wallets designated by Binance and Polymarket.
The Polygon Improvement Proposal (PIP) was published on the network’s community forum on November 4 by Parvez03, a member of the Polygon Labs Validator Support Team. The proposal was co-developed with the two affected companies and calls for a one-time change to the Polygon PoS network’s ledger.
(Source: Polygon)
The funds are linked to separate security incidents involving Binance and Polymarket on October 29 and 30. Four addresses associated with the Polymarket incident hold 23.86 million POL, while a fifth address linked to Binance contains another 46.63 million POL.
(Source: Polygon)
The combined balance is 70,489,329.34 POL. The proposal uses a POL price of $0.0924 on October 29 to estimate its value at approximately $6.5 million.
How the Polygon proposed recovery would work
If approved, the hard fork would set the POL balances of the five listed addresses to zero at a designated block and credit the corresponding amounts to verified recovery wallets belonging to Binance and Polymarket. The network’s total POL supply would remain unchanged.
Polygon block producers have already blocked transactions from the identified addresses, preventing the funds from moving. However, the existing restrictions cannot return the assets to their owners. The proposal also says attackers have attempted to bypass the restrictions and approached validators with offers of payment.
The proposed transfer is limited to native POL held in the five specified addresses. Around 6.18 million USDT sent to the Binance-linked address is excluded because Tether has already frozen those funds. Other Binance-related blocked addresses are also excluded.
(Source: Polygon)
The proposal is due for discussion during Polygon’s Protocol Governance Call on November 5 at 14:30 UTC. If approved, development and testing on the Amoy testnet are expected to take around two weeks before a possible mainnet activation. The recovery has not yet been approved or completed.

Escaldes-Engordany, Andorra, November 4th, 2026, Chainwire
With over 1 million downloads, the NEAR ecosystem’s largest mobile wallet expands its global reach while launching gasless cross-chain swaps across 120+ assets and 35+ blockchains powered by NEAR Intents.
NEAR Mobile is gaining international traction, appearing in App Store rankings across 38 countries over a recent 31-day period, according to app ranking data from Toplify.
The self-custodial wallet reached #1 in Finance in Serbia, #2 in Hungary, and #4 in Moldova and Oman, highlighting its growing visibility across international markets. NEAR Mobile also recently reached #7 in Finance in Finland and Nigeria.
These milestones come amid growing attention around the NEAR ecosystem and its chain abstraction infrastructure. NEAR Intents, the protocol powering cross-chain execution across the ecosystem, has surpassed $33 billion in cumulative volume across 35 blockchains.
With more than one million downloads, NEAR Mobile is the largest mobile wallet in the NEAR ecosystem and continues to expand its capabilities with version 4.0.0, introducing a gasless experience designed to make blockchain interactions significantly simpler.
From Global Adoption to a Gasless Multichain Experience
As NEAR Mobile expands its international reach, its latest update addresses one of crypto’s biggest usability challenges: gas fees.
Traditionally, users interacting with multiple blockchains must maintain different native tokens to pay transaction fees, even when they already hold the assets they want to transfer or swap.
With version 4.0.0, NEAR Mobile sponsors relayer fees for supported transactions, enabling users to swap and move assets across supported networks without needing to hold NEAR or maintain native gas tokens across different blockchains.
Powered by NEAR Intents, NEAR Mobile provides access to more than 120 assets across 35+ blockchains, combining cross-chain execution, unified balances, staking and self-custodial asset management in a single mobile interface.
One Wallet. All Chains. Powered by NEAR.
Unified Balances Across 35+ Blockchains
Beyond removing gas complexity, NEAR Mobile addresses another major challenge in crypto: fragmented liquidity.
A user holding USDC across Ethereum, Base, BNB Chain and TRON traditionally has separate balances that may require manual bridging and network switching to use together.
Through NEAR Intents, NEAR Mobile can present supported liquidity from multiple networks as a unified balance, allowing users to send or swap aggregated assets without manually bridging funds first.
Cross-chain swaps can settle in seconds, bringing the experience closer to using a single financial account rather than navigating multiple independent blockchains.
By abstracting networks, bridges and gas tokens, NEAR Mobile makes NEAR’s chain abstraction technology accessible to everyday users.
The Largest Mobile Wallet in the NEAR Ecosystem
With over one million downloads and growing visibility across international Finance App Store rankings, NEAR Mobile has established itself as a leading consumer application within the NEAR ecosystem.
Available on both iOS and Android, the self-custodial NEAR wallet allows users to create and manage NEAR accounts, send and receive assets, stake NEAR and access multichain functionality directly from their phones.
NEAR Mobile supports onboarding through Google, Apple ID or email, combining a familiar mobile experience with self-custody and on-chain account recovery.
Experienced users can alternatively create or import wallets using a traditional mnemonic phrase.
The wallet also provides NEAR staking and access to NPRO staking, currently offering up to 8.58% APY.
As NEAR’s chain abstraction ecosystem continues expanding, NEAR Mobile aims to make its infrastructure accessible through an intuitive consumer-facing application.
NEAR Mobile at a Glance
1M+ downloads
App Store rankings across 38 countries in a recent 31-day period
#1 Finance in Serbia, #2 Hungary, #4 Moldova and Oman
120+ assets across 35+ blockchains
Gasless transactions for supported actions
Cross-chain swaps powered by NEAR Intents
Unified multichain balances
NEAR and NPRO staking
Google, Apple ID, email and mnemonic onboarding
On-chain account recovery and self-custody
Available on iOS and Android
About NEAR Mobile
NEAR Mobile is the largest self-custodial mobile wallet in the NEAR ecosystem, with more than 1 million downloads across iOS and Android.
Powered by NEAR Intents, the wallet enables users to manage NEAR, stake assets and access more than 120 tokens across 35+ blockchains through gasless cross-chain functionality and unified balances.
Its mission is to make NEAR’s chain abstraction infrastructure accessible to everyone by removing the complexity of networks, bridges and gas tokens.
One Wallet. All Chains. Powered by NEAR.
Contact
NEAR MobileFerran PratPeersyst Technology Global SLfprat@peersyst.com

FinChain and Plume launched FLEX & FINO, a leveraged RWA yield strategy targeting up to 7.2% APY using FUSD as collateral and borrowed USDC for DeFi liquidity pools.
The strategy includes a 90% utilization cap, T+2 redemptions and T+14 to T+30 interest settlements.
FinChain, a crypto-finance platform incubated by Fosun Wealth Holdings, has partnered with institutional open finance platform Plume to launch FLEX & FINO, a leveraged yield strategy targeting annualized returns of up to 7.2% on its FUSD real-world asset (RWA) token.
Announced on November 4, the product combines income from tokenized traditional financial assets with additional returns generated through decentralized finance (DeFi) liquidity pools. The projected 7.2% APY is based on baseline assumptions and is not a guaranteed return.
FUSD, or FinChain Dollar, is backed by tokenized short-term U.S. Treasury securities and compliant money market funds. FinChain says its reserves are held by designated custodians and maintained at a minimum collateralization ratio of 100%.
How the FLEX & FINO strategy works
Under the arrangement, users deposit FUSD as collateral and continue earning its underlying yield. They can then borrow USDC against their holdings and deploy the borrowed stablecoins into on-chain liquidity pools to generate additional income.
The strategy uses a leveraged looping model, allowing users to combine Treasury-linked returns with potential DeFi yields. However, borrowing costs and liquidity pool performance will influence the actual returns.
FinChain has set a 90% utilization cap as part of its risk management measures. Redemptions follow a T+2 settlement cycle, while interest settlements take place between T+14 and T+30.
The companies did not disclose the initial total value locked (TVL) or provide a detailed breakdown of the borrowing rates and liquidity pools used to calculate the projected yield.
FLEX & FINO marks the first product launched under the strategic partnership between FinChain and Plume. The companies said their work included technical integration, strategy modelling and risk controls.
Separately, FinChain has completed an integration with cryptocurrency exchange KuCoin, allowing FUSD to participate in its RCMS staking mirror solution.

Republican Andy Barr defeated Democrat Charles Booker in Kentucky’s U.S. Senate race, giving the crypto industry another lawmaker with a record of supporting digital asset legislation.
Barr voted in favour of both the CLARITY Act and GENIUS Act in the House in July 2025. Fairshake-linked PACs reportedly spent more than $7 million supporting his Republican primary campaign.
Republican Andy Barr has won Kentucky’s U.S. Senate race, defeating Democrat Charles Booker and securing another potential ally for the cryptocurrency industry in Congress. With 55% vote, Barr will replace longtime Republican Senator Mitch McConnell, who is leaving the Senate after more than four decades representing Kentucky.
Source: Kentucky State Board of Elections
Barr’s victory follows a campaign in which crypto-backed political groups played a significant role in supporting his political rise. Fairshake and its affiliated political action committees (PACs) reportedly spent more than $7 million backing Barr during the Republican primary, helping him secure the party’s nomination. The spending was part of a wider effort by the crypto industry to support candidates viewed as favourable to digital asset regulation.
The industry’s support reflects Barr’s voting record on two major crypto bills passed by the House in 2025.
Barr backed major crypto legislation
Barr voted in favour of the Digital Asset Market Clarity Act, commonly known as the CLARITY Act, which aims to establish a clearer regulatory framework for digital assets and define oversight responsibilities between federal regulators.
He also supported the GENIUS Act, legislation establishing a federal framework for payment stablecoins. The House passed both measures on July 17, 2025, with Barr voting in favour of each bill.
His election gives the crypto sector another lawmaker with a record of supporting legislation intended to provide clearer rules for the industry. However, his victory does not guarantee that future crypto bills will pass through Congress.
The election also comes as digital asset companies and industry-backed PACs have increased their political spending ahead of the 2026 midterms. Fairshake has been among the largest players in that effort, backing candidates from both parties who support crypto-friendly policies.
Barr’s move from the House to the Senate will put him in a position to take part in future debates over digital asset market structure, stablecoin rules and the wider regulation of the U.S. crypto industry.

Hong Kong plans to introduce tokenised gold for interbank transactions, with each digital token representing a physical 400-ounce (12.4-kg) gold bar.
The project will use HAU as its gold pricing reference and build on the HKMA’s Project Ensemble framework.
Hong Kong is preparing to introduce a tokenized gold project that will allow banks to conduct transactions using digital tokens representing physical gold bars weighing 400 troy ounces, or approximately 12.44 kilograms.
Christopher Hui, the city’s Secretary for Financial Services and the Treasury, announced the plan on November 2 during Hong Kong FinTech Week 2026. He said the interbank tokenized gold transaction project would start soon, although officials have not provided a specific launch date.
The proposed token will use HAU, Hong Kong’s gold price reference, to determine the value of the underlying bullion. Tokenized bank deposits will also be used to support transactions between participating financial institutions.
(Source: Hong Kong Government)
The project will build on the Hong Kong Monetary Authority’s (HKMA) Project Ensemble, an initiative launched in 2024 to test the use of tokenized money and digital assets in financial transactions.
Project Builds on Hong Kong’s Digital Settlement Plans
The announcement comes as Hong Kong expands its infrastructure for tokenized financial assets. On November 2, the HKMA said its EnsembleTX pilot had moved to 24-hour settlement of tokenized deposit transactions using tokenized central bank money.
The pilot now includes 12 participating banks and 20 industry pioneers. The expanded system allows institutions to settle transactions outside conventional banking hours.
However, the gold-token project and the 24-hour settlement upgrade are separate announcements under the broader Project Ensemble framework.
Hong Kong has also been developing its physical gold market. Its central gold clearing and settlement system began trial operations on July 7, 2026, with a formal launch targeted for the first quarter of 2027.
Officials have not yet disclosed the proposed gold token’s issuer, blockchain network, custody arrangements or whether it will be available to retail investors. The announcement currently focuses on transactions between financial institutions, rather than a product for individual buyers.

Binance is reopening withdrawals for 56 additional crypto assets across Ethereum and Solana as part of its sixth recovery phase following the $6.3 billion hack.
The latest update covers nine blockchain networks, including BNB Smart Chain, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
Binance is reopening withdrawals for additional cryptocurrencies across Ethereum, Solana and several other blockchain networks as the exchange continues restoring services following its October 29 security breach, which resulted in losses estimated at $6.3 billion.
In its sixth recovery update, published on November 3, the exchange said withdrawals for the newly listed assets would begin reopening at 04:00 UTC. The latest phase covers nine networks, including Ethereum (ETH), Solana (SOL), BNB Smart Chain (BSC), XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base.
The Ethereum withdrawal list includes ENA, USDE, PENDLE, WLD, SHIB, ONDO, LINK, ETHFI, JASMY, PUNDIX and several other tokens. On Solana, users will see assets such as PUMP, RENDER, RAY, TRUMP, PENGU, JUP, PYTH, BONK and WIF included in the reopening plan.
(Source: Binance X)
Binance also listed additional assets on BNB Smart Chain, including Bitcoin (BTC), Ethereum, XRP, Cardano (ADA), Dogecoin (DOGE) and Solana. The update also includes selected assets on the other supported networks.
Withdrawals to Resume in Phases
Binance said the listed assets would not become available simultaneously. The exchange will restore withdrawals progressively after completing security and readiness checks for each network and asset.
It added that deposits remain open and are not affected by the latest withdrawal restrictions. Users may experience delays or longer processing times during the rollout because of increased transaction traffic. The exchange advised customers to check individual withdrawal pages before transferring funds.
The latest move follows Binance’s initial withdrawal reopening on November 1, when selected networks and assets became available again.
Binance has also reiterated that it will bear the financial impact of the stolen funds rather than pass the losses on to users. The exchange said it would continue restoring services and adding assets as they complete the required checks.

Kim Yo Jong rejected the FBI’s claim that North Korea was behind the $6.3 billion Binance hack, calling the accusation “absurd rhetoric” and a political provocation.
The FBI attributed the October 29 attack to North Korea’s TraderTraitor group and urged crypto service providers to block transactions linked to the stolen funds.
Kim Yo Jong, the sister of North Korean leader Kim Jong Un, has rejected allegations that Pyongyang was behind the $6.3 billion hack of cryptocurrency exchange Binance, calling the FBI’s accusation “absurd rhetoric” and a political provocation.
In a statement carried by North Korea’s state news agency KCNA on Tuesday, November 3, Kim accused Washington of trying to portray the country as a “cyber criminal state” by repeatedly linking it to cyberattacks around the world.
She said the allegation was another attempt by the United States to damage North Korea’s international reputation. Kim also said Pyongyang was closely monitoring what she described as continued US provocations.
JUST IN: Kim Yo Jong, sister of North Korean leader Kim Jong Un, has denied North Korea’s involvement in the $6.3 billion Binance hack. She dismissed the FBI’s accusation linking the Binance attack to the North Korean hacking group TraderTraitor as "absurd rhetoric" and a "grave political provocation." The FBI attributed the $6.3 billion theft to North Korea over the weekend. #Binance #NorthKorea #BinanceHack
— TheNewsCrypto (@The_NewsCrypto) November 3, 2026
Her response came three days after the FBI publicly attributed the October 29 theft from Binance to North Korean hacking activity known as TraderTraitor.
FBI Warns Crypto Firms to Block Stolen Funds
In its October 31 advisory, the FBI said North Korea was responsible for stealing more than $6 billion in virtual assets from Binance. The agency identified TraderTraitor as the group behind the attack and said investigators had observed the hackers converting the stolen cryptocurrency primarily into Ethereum (ETH).
The FBI warned that the funds could be moved through decentralised finance (DeFi) platforms and instant cryptocurrency exchange services to make them harder to trace.
The agency also urged cryptocurrency exchanges, blockchain analytics firms and other digital asset service providers to block transactions involving wallet addresses connected to the theft. It published a list of associated addresses to help industry participants identify the funds.
The FBI’s attribution has not been accepted by Pyongyang, which has denied involvement. US President Donald Trump also said investigators were still examining the issue and that he did not know whether North Korea was responsible.
The dispute follows one of the largest reported cryptocurrency thefts, with investigators and industry participants continuing efforts to track the stolen assets.

RBI and FIU-IND are reportedly examining offshore crypto cards linked to Visa, Mastercard and RedotPay over potential FEMA and payment regulation violations.
Indian users have reported card deactivations, while RedotPay had already listed India as a restricted region in an August 2026 notice.
India’s Reserve Bank of India (RBI) and Financial Intelligence Unit-India (FIU-IND) are examining offshore crypto cards that allow residents to spend digital assets on everyday purchases and withdraw cash from ATMs, according to a November 2 report by The Economic Times.
The scrutiny centres on whether these cards comply with Indian payment regulations and the Foreign Exchange Management Act (FEMA). The report, citing two people familiar with the matter, said authorities are also understood to be in contact with Visa and Mastercard. Neither the RBI nor the payment networks confirmed the discussions.
The cards, offered by overseas fintech providers such as RedotPay, allow users to spend stablecoins and other cryptocurrencies through conventional payment networks. When a transaction takes place, the provider converts the required crypto balance into rupees, allowing merchants to receive payment like a regular card transaction.
Users have reportedly used these cards for online shopping, mobile recharges, flight bookings and ATM withdrawals. Some cards cost between $40 and $50 and carry a three-year validity, according to the report.
Several Indian users have also complained on social media that their cards stopped working in recent days. Access to some service providers’ websites has reportedly been restricted.
FEMA and Payment Authorisation Concerns
The scrutiny follows findings shared with authorities by Bengaluru-based Digital South Trust. The organisation obtained a virtual Visa-backed RedotPay card and carried out multiple domestic online transactions in August. Its founder, Sudhakar Lakshmanaraja, said the group documented how offshore card programmes could fund routine payments using cryptocurrencies and dollar-backed stablecoins. He also raised concerns about some programmes advertising limited or no KYC requirements.
Legal experts cited by The Economic Times said the arrangements could raise questions under FEMA and regulations governing prepaid payment instruments. Under RBI rules, entities operating prepaid payment systems in India generally require the necessary authorisation.
RedotPay had already listed India among the regions where residents were ineligible for its virtual and physical cards in a restriction notice dated August 28, 2026.
However, no public enforcement order specifically naming RedotPay, Visa or Mastercard has been announced. The reported scrutiny does not establish that any of the companies have violated Indian law.

Abu Dhabi signed four agreements with OpenAI covering AI adoption in energy, government services, investment and enterprise solutions.
ADNOC will deploy OpenAI’s GPT technology, while a government pilot is already using AI to assist with food import compliance checks.
Abu Dhabi has signed four agreements with OpenAI to expand the use of artificial intelligence across government services, energy operations and investment, following a meeting between Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and OpenAI CEO Sam Altman on November 2.
The Crown Prince witnessed the signing of the agreements, which form part of Abu Dhabi’s plan to bring AI into key areas of its economy and move towards becoming what officials describe as the world’s first fully AI-native government.
One of the agreements involves the Abu Dhabi National Oil Company (ADNOC), G42 subsidiary Inception42 and OpenAI. The partnership makes ADNOC the first company in the energy sector to deploy OpenAI’s frontier technology.
The companies will use OpenAI’s GPT models and computing infrastructure based in the UAE to connect AI capabilities across ADNOC’s operations. The initial work will focus on field development planning and linking decisions across production, processing, refining, logistics, sales and trading.
ADNOC said the technology will help teams analyse complex operational and commercial information and prepare development plans in hours rather than months. Human experts will retain oversight of important decisions.
Government and Investment Sectors Included in the Agreements
A second agreement introduces an AI-native Machine-Readable Government initiative between Abu Dhabi’s government and OpenAI. It will convert selected government policies and regulations into a format that AI systems can process, allowing them to assist officials with routine compliance checks, including those linked to permits and certificates.
The first pilot is already operating with the Abu Dhabi Agriculture and Food Safety Authority and focuses on food imports. The Department of Government Enablement is leading the initiative. Officials will retain responsibility for final decisions, while each AI assessment will be traceable to the relevant regulation.
The third agreement brings together Mubadala, Inception42 and OpenAI to apply AI to investment analysis, identifying opportunities and assessing risks.
Under the fourth agreement, Inception42 and OpenAI will work together for five years to support the adoption of advanced AI across the UAE’s government, business and education sectors. Their work will include developing enterprise solutions for large organisations.
Altman said the UAE was setting a global standard for AI integration across public and private sectors, with a focus on safety, accessibility and responsible innovation.
The Abu Dhabi Media Office did not disclose the financial value of the four agreements. The announcements mark a further expansion of OpenAI’s work in the UAE as the country continues investing in AI infrastructure and wider adoption.

CZ thanked the FBI, U.S. Secret Service and other federal agencies for helping track and freeze funds stolen in Binance’s $6.3 billion hack.
The FBI linked the attack to North Korea’s TraderTraitor hacking group.
The U.S. Secret Service confirmed its investigators helped freeze a significant portion of the stolen assets.
Binance co-founder Changpeng Zhao has credited U.S. law enforcement agencies, including the FBI, Secret Service and Internal Revenue Service, for helping track and freeze funds stolen in the exchange’s $6.3 billion security breach.
The Binance Hack Breakdown: How Attackers Breached the Exchange and Moved the Stolen Funds
In a November 2 post on X, Zhao praised investigators for their quick response, saying they acted within minutes of the October 29 attack. He credited their speed and cooperation with helping contain the damage and reducing the risk of wider disruption across the cryptocurrency industry and financial markets.
Thank you, @SecretService, and all the agencies and industry partners involved. You acted within minutes to help track and freeze stolen funds, and the work continues. Your speed, expertise, and dedication helped contain the damage and reduce the risk of potential ripple effects across crypto and, may I say, even the broader financial markets. Deeply grateful.
— CZ BNB (@cz_binance) November 1, 2026
Zhao also responded to the FBI’s announcement that North Korea was responsible for the attack. He said the agencies provided important assistance in tracing and freezing the stolen cryptocurrency.
The comments followed an announcement from the U.S. Secret Service, which confirmed that its investigators had joined the effort to track the stolen funds.
The attack took place on October 29, when hackers compromised Binance’s internet-connected hot wallets and stole approximately $6.3 billion in digital assets. Binance said the incident involved unauthorized withdrawals and that its investigation had uncovered multiple points of breach. The exchange has not found evidence that wallet private keys were leaked.
FBI Links Binance Attack to North Korea
The FBI formally attributed the theft to North Korea’s state-sponsored hacking operation known as TraderTraitor in an alert published on October 31.
According to the agency, the attackers began converting the stolen assets primarily into Ethereum. The FBI, working with the U.S. Secret Service and IRS Criminal Investigation, warned that the funds could be moved through decentralized finance platforms and instant swap services to make further tracking difficult.
The FBI is releasing information advising the Democratic People’s Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange, Binance, on or about October 29, 2026. The FBI refers to this specific North Korean malicious cyber activity as "TraderTraitor." The FBI, together with partners at the USSS and IRS-CI, has observed TraderTraitor actors converting stolen assets primarily into Ethereum (ETH). It is expected these assets will then be further laundered by converting them using DeFi and instant swap services as they prepare them for further laundering stages. How You Can Help: FBI, USSS, and IRS-CI are urging private sector entities including THORNode operators, RPC node operators, instant exchanges, DeFi services, blockchain analytics firms, and other virtual asset service providers to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets. A list of addresses associated with this activity is available here: https://t.co/g0oIWx0WeD
— FBI Cyber Branch (@FBICyberBranch) October 31, 2026
Binance previously reported that approximately $3 billion in affected assets had been frozen on-chain through cooperation with law enforcement agencies, blockchain intelligence firms, token issuers and other industry participants. The exchange said it would cover the financial impact of the theft using its Secure Asset Fund for Users (SAFU) and corporate funds.
The recovery effort has continued alongside the restoration of exchange services. Binance said on November 1 that it had replaced 90% of the stolen assets using company funds. Reuters reported on November 2 that the figure had reached approximately 95%, with the remaining tokens taking longer to source because of lower liquidity.
Meanwhile, Binance has also resumed withdrawals in phases. The resumption of withdrawals also led to a significant movement of funds from the exchange. Binance reported $3.64 billion in net outflows between 06:00 and 15:30 UTC on November 1, after processing $4.649 billion in withdrawals and receiving $1.01 billion in deposits.
(Source: Binance)
The net outflow represented 2.1% of Binance’s total assets under management, which stood at $171 billion based on its October 28 Proof of Reserves data. The exchange said withdrawal volumes had declined after an initial surge and were beginning to stabilize, while deposits remained substantial.

Major crypto exchanges Coinbase and Kraken reviewed their security measures following the $6.3 billion Binance hack.
OKX CEO Star Xu called for real-time threat-sharing between crypto exchanges to help identify attacks and freeze stolen funds.
Crypto exchanges are reviewing their security systems after a $6.3 billion hack at Binance raised fresh concerns about how quickly attackers can exploit weaknesses in exchange infrastructure.
The Binance Hack Breakdown: How Attackers Breached the Exchange and Moved the Stolen Funds
Coinbase said it had adjusted the systems used to store cryptocurrency keys offline as a precaution. Kraken, meanwhile, said it was monitoring security incidents across the industry and looking for lessons that could help strengthen its own defences, according to Reuters.
The response comes after Binance disclosed that its hot wallets were compromised on October 29, resulting in approximately $6.3 billion in stolen assets. The exchange said it would cover the losses using its Secure Asset Fund for Users (SAFU) and corporate treasury.
OKX Pushes for Industry-Wide Security Alerts
Beyond individual security reviews, OKX CEO Star Xu has called for exchanges and other crypto companies to establish a real-time alert system to respond to major hacks.
In a post on X, Xu said industry participants should be able to share information immediately after an attack, coordinate their response and temporarily freeze funds suspected of being stolen. Such a system could help exchanges and asset issuers act before hackers move funds through multiple wallets and networks.
The recent security incidents involving Bybit, Bitget, and now Binance should serve as a wake-up call for every leader in the crypto industry. Security should never be an area of commercial competition. It is a shared responsibility to protect our customers and the entire industry. Over the past decade, major crypto exchanges have made significant progress in protecting private keys. We have seen relatively few incidents involving direct private key compromises in recent years. So far, we have not seen conclusive evidence that Binance’s hot wallet private key was leaked. The greater concern may lie in vulnerabilities in access controls and wallet management systems. Companies that have never experienced a major security incident should not assume they are inherently safer or immune to attacks. At OKX, we have built multiple layers of sophisticated security protection and maintained a strong security track record over the past decade. But we also recognize that no system is absolutely secure. We must remain humble, vigilant, and constantly challenge our own security assumptions. A major security breach at any exchange undermines trust in the entire crypto industry, ultimately hurting every company and every customer. I believe CEOs across the industry need to come together, just as we did during the Bitcoin fork crisis in 2017, to establish stronger industry-wide security standards and coordinated response mechanisms. For example, transfers and settlements between verified exchanges could be processed in real time, while large withdrawals to unknown or unverified addresses, as well as transactions granting smart contract permissions, should be subject to additional verification and appropriate security delays. Crucially, these safeguards should be enforced at the cryptographic signing layer, rather than relying solely on application-level controls. Even if an attacker compromises an exchange’s wallet management system, they should not be able to bypass these fundamental security restrictions. We should also establish industry-wide mechanisms for real-time security incident notifications, coordinated monitoring of suspicious funds, and rapid responses to potential attacks. Exchanges, stablecoin issuers, and other major industry participants should work together to enable the rapid, lawful temporary freezing of suspected stolen assets when necessary. We should also work together to accelerate the industry’s transition to quantum-resistant cryptography and strengthen our defenses against emerging AI-powered security threats. These are long-term challenges that no single company can solve alone, and they require coordinated research, shared standards, and collective action across the industry. Security is everyone’s responsibility. No company can protect the future of crypto alone.
— Star_OKX (@star_okx) October 30, 2026
The industry is also looking at the human side of security. Harry Donnelly, CEO of crypto risk infrastructure firm Circuit, told Reuters that companies are planning additional employee training to guard against social engineering attacks, in which hackers manipulate staff into providing access to sensitive systems.
Meanwhile, stablecoin issuers have already taken action linked to the Binance incident. Tether froze nearly $1.57 billion in associated USDT, while Circle froze about $800 million in USDC. Bitcoin and Ether cannot be frozen by a central issuer in the same way.
Binance said on October 30 that approximately $3 billion in affected assets had been frozen on-chain through cooperation with law enforcement, blockchain intelligence firms and industry partners. The exchange is also strengthening security checks across affected infrastructure.
The latest responses show that exchanges are looking beyond individual platform security, with faster information-sharing and coordinated action emerging as key priorities.

Trezor urged customers who bought wallets from CryptoBilis since March 2026 to move their funds to a new wallet with a fresh recovery phrase.
A customer reported finding an additional circuit board with a cellular module inside a Trezor Safe 5.
Trezor has yet to physically inspect the device, and no customer fund losses have been reported.
Trezor has warned customers who purchased its hardware wallets through reseller CryptoBilis to move their cryptocurrency after receiving a report of suspected physical tampering inside a Trezor Safe 5 device. The warning applies to customers who purchased any Trezor model through CryptoBilis since March 2026. Trezor is asking them to transfer their funds to a new wallet and generate a fresh recovery phrase.
The report came from a customer in Indonesia who bought the Safe 5 through the e-commerce platform Tokopedia in August. The buyer contacted Trezor on October 28 after discovering an additional circuit board inside the device.
CryptoBilis update We’ve been made aware, through responsible disclosure, of a single hardware implant in a Trezor Safe 5 device bought from the reseller CryptoBilis in August 2026. No CryptoBilis buyer has reported a loss of funds to us. IMPORTANT: If you bought a Trezor from CryptoBilis from March 2026 onwards, we know this is unsettling. Here’s what to do: Already using it? Move your funds to a newly created wallet with a new seed as soon as possible. Do not reuse the old seed in any wallet, hardware or software. If you don’t have another secure hardware wallet available, we recommend temporarily migrating your funds to a software wallet or an exchange you are familiar with. Not set up yet? Don’t set it up, and never enter your existing wallet backup on it. We haven’t received the device to confirm this report, but based on the customer’s description, we’re treating it as credible and sharing it now so customers who purchased a Trezor via CryptoBilis can secure their funds as a precaution. Our security team will examine the device as soon as it arrives. On October 9, 2026, we removed CryptoBilis as a reseller following reports of tampered Ledger devices sold through it. Since then, we have been inspecting Trezor devices that customers bought from CryptoBilis and have found no signs of tampering on any of the four devices we’ve received so far. NEVER share your wallet backup (recovery phrase) with anyone. Trezor Support will never ask for it. If you are affected by this incident, please keep your CryptoBilis device and contact Support to receive a new Trezor hardware wallet: https://t.co/5EasOVDDQh We’re investigating and will post updates here as soon as we know more. Thank you to the customer who reported this through our responsible disclosure program, and to @SEAL_911 for working alongside our teams on the response. Reports and engagement like this help us protect everyone else. For more information, visit our blog: https://t.co/2LmFV8L2oe
— Trezor (@Trezor) October 30, 2026
According to the customer’s report, the extra component was fitted between the wallet’s main circuit board and its screen. It reportedly contains a cellular communication module and an antenna that could capture information displayed on the screen, including the recovery phrase, and send it through a mobile network.
Anyone who obtains a wallet’s recovery phrase can restore it on another device and access the funds without having the original hardware wallet. This is why Trezor has advised customers to create an entirely new wallet rather than simply moving their existing recovery phrase to another device.
Trezor Investigates Report as CryptoBilis Faces Earlier Ledger Case
Trezor said it reviewed photographs of the device and interviewed the customer through a video call. Although the company considers the report credible, it has not yet received the newly reported wallet for laboratory testing. No customer who purchased a device through CryptoBilis has reported losing funds to Trezor.
Source:Trezor
The warning follows an earlier investigation involving Ledger wallets sold through the same reseller. Ledger began examining reports of stolen funds on October 9 and confirmed physical tampering involving an unauthorized hardware component in an affected device. Trezor removed CryptoBilis from its authorized reseller network on the same date.
Trezor has asked affected customers to contact its support team for a replacement device or a voucher. Buyers who have not yet configured their wallets should avoid using them.
The company is arranging a physical examination of the reported Safe 5 device. Until that inspection is complete, the suspected implant and its ability to capture recovery phrases remain unconfirmed.

Kraken resolved a one-hour trading outage on October 30 that affected its spot and derivatives markets.
The disruption impacted its website, mobile apps, REST, WebSocket and FIX API connections.
Kraken has not disclosed the cause of the outage or the number of affected customers.
One of the leading crypto exchanges, Kraken, resolved a trading disruption that affected its spot and derivatives markets on October 30, after customers experienced problems connecting to the exchange and submitting orders across its trading platforms.
According to the exchange’s official status page, the incident began at 02:42 UTC (8:12 AM IST) and was resolved at 03:42 UTC (9:12 AM IST), lasting approximately one hour.
The disruption affected customers using Kraken’s website and mobile applications, along with traders connecting through its REST, WebSocket and FIX APIs. These services allow users to access market data, connect trading systems and submit orders to the exchange.
(Source: Kraken)
Kraken initially reported that it was investigating connectivity and order submission problems affecting both spot and derivatives clients. The exchange posted another update at 02:55 UTC, saying its investigation was continuing, before marking the incident as resolved less than an hour later.
Kraken Provides No Details on What Caused the Trading Disruption
The outage affected more than just customers using Kraken’s website or mobile app. Traders relying on automated systems and API connections also faced difficulties accessing the platform and placing orders.
REST and WebSocket APIs are commonly used by trading bots and other automated systems to interact with cryptocurrency exchanges. FIX connections are also used by institutional traders to communicate with trading platforms and manage orders.
However, Kraken has not disclosed what caused the disruption or whether it resulted from a technical failure in its trading infrastructure. The exchange also did not provide details about the number of affected customers, rejected orders or any financial losses resulting from the incident.
Kraken’s status page confirmed that the issue had been resolved at 03:42 UTC on October 30. The exchange has not announced any further details about the incident or published a technical explanation.
The disruption comes as cryptocurrency exchanges continue to face pressure to maintain reliable trading services, particularly during periods of market activity when delays in order execution can affect traders.