Binance Hit by $6.43B Hot Wallet Hack

Binance hot wallets hacked for $6.43 billion, the largest theft in history

Binance suffered the largest single theft of any kind on record on October 29, 2026, when attackers drained hot wallets across 10 to 11 blockchains in roughly 20 minutes starting at 20:05 UTC. Elliptic puts the loss at $6.43 billion, more than four times the $1.46 billion taken from Bybit in 2025 and six times larger than Saddam Hussein's 2003 Central Bank of Iraq raid. Binance itself estimates the impact at about $6.3 billion, with $3.80 billion stolen on Ethereum alone across 186 tokens, plus 18,270 BTC worth $1.48 billion and 612.7 million USDT on Tron.

The FBI attributed the attack to North Korea's TraderTraitor group, the same unit behind Bybit, which almost doubles the regime's cumulative crypto haul to more than $13 billion. TRM Labs said the attacker used an EIP-7702 delegation to turn a Binance hot wallet into a sweeper it controlled, with 50 pre-signed authorizations prepared in advance, pointing to a compromise of hot wallet signing infrastructure rather than a leaked private key.

Tether, Circle, Ripple and World Liberty Financial froze about $2.67 billion in stablecoins, and Arbitrum's Security Council froze 8,426 ETH and 74.6 million ARB, with roughly $2.85-3 billion frozen in total. The attacker raced the freezes, selling USDT to market makers and borrowing ETH against USDT on Aave, and now holds more than 420,000 ETH and 18,270 BTC beyond any issuer's reach.

Binance has reserved more than $6.34 billion of company funds, about $5 billion already in the same tokens stolen, says it has replenished roughly 90% of losses, and began reopening withdrawals in phases on November 1, starting with the Bitcoin network. A full Proof of Reserves report is due November 2.

See 1Token's analysis: https://blog.1token.tech/big-loss-but-binance-should-be-fine/

CF Benchmarks launches CFB Oracle with Hyperliquid targeting US perpetuals

Payward, the parent company of Kraken, is pushing index provider CF Benchmarks into onchain price infrastructure with the launch of CFB Oracle. The service exports the benchmark pricing data that already underpins BlackRock's spot Bitcoin ETF and CME Group's crypto futures to DeFi applications, and extends beyond crypto to stocks, bonds and commodities. It is positioned for onchain index funds, tokenized portfolios and derivatives, with every price signed at source so consumers can verify provenance rather than trust a single aggregator.

The first commercial use is a US perpetual futures business Payward plans to build on Hyperliquid infrastructure. Hyperliquid said Payward intends to become the first CFTC-regulated HIP-3* market deployer, with CFTC-regulated Bitnomial creating and operating the markets and handling contract clearing and settlement, while futures commission merchant NinjaTrader Clearing manages client accounts. HIP-3* will arrive through a future network upgrade enabling permissioned markets via an onchain whitelist; it is optional and leaves existing HIP-3 markets untouched. The feature is already on testnet and specifications may still change, and the whole product remains subject to regulatory approval.

ChinaAMC (Hong Kong) and Futu's PantherTrade launch 24/7 secondary trading for tokenized funds

ChinaAMC (Hong Kong) and Cheetah Trade, the licensed virtual asset trading platform under Futu known as PantherTrade, have launched SFC-approved 24/7 secondary market trading for digital public funds. Retail investors can now buy and sell tokenized units of ChinaAMC's HKD and USD Digital Money Market Funds at any hour, starting with the F Class units denominated in each currency, a first for Hong Kong's regulated tokenized fund market.

The service adds real-time indicative NAV (iNAV) display, deviation alerts that flag when traded prices drift from fair value, and a five-minute cooling-off period before an order is executed. Continuous trading applies to the secondary market only; primary market subscriptions and redemptions still follow the fund's offering documents and same-day NAV calculation schedule.

Investors should note the structural difference from ordinary fund dealing: intraday liquidity comes from market makers rather than the fund itself, so pricing can diverge from the official NAV even with alerts in place, and the cooling-off window is a guardrail, not a price guarantee.

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