See the full story in the original article.
Original headline: Arbitrum’s council moved $30 million of Binance hack funds without the hacker’s key
Read the original on CoinDesk ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
ARB/USDT
▼ Likely negativeArbitrum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 2 |
| Market cap | $1.1B |
| Close on 11/02/2026 | 0.15570 |
| Change that session | -4.95% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Morning Minute: Tom Lee Calls the Binance Hack Bullish for Ethereum
Tom Lee, head of BitMine Immersion, called the market's reaction to the $6.3 billion Binance hack, the largest crypto theft on record, “constructive.” He cited four factors: Binance covered the loss from its own balance sheet, Tether and Circle froze the stolen stablecoins within hours, no DeFi protocol collapsed, and investigators quickly attributed the attack to North Korea. ETH fell about 4% after the hack, compared with an 8% drop on day one and 20% over the following week after the February 2025 Bybit hack. BitMine holds 6,060,506 ETH, or 4.9% of circulating supply, and is 99% of the way to its 5% cap, about 49,500 ETH short. With this large weekly corporate buyer nearly finished, the article asks what ETH demand will look like without it.
- Binance net outflows reach $5.3 billion after record hack. CEO says recovery underway
- Binance Misses Monthly Luna Classic Burn for First Time Since 2023
Binance has burned a share of its Luna Classic (LUNC) trading fees nearly every month since March 2023, but according to StatsBin data, the November burn has yet to occur. Some investors link the delay to the record $6.3 billion hack of Binance, which the FBI attributes to North Korea’s TraderTraitor. A prominent community member says Binance is moving LUNC to a more secure wallet before resuming burns, though Binance has not confirmed this or responded to a request for comment. LUNC has dropped 7.9% over the past week to $0.0000417, down 99.99% from its all-time high of $119.18. Binance previously paused burns at the end of 2022, after the Terra Classic community voted to re-mint burned tokens.
- Binance's net inflows turn positive at $2.3B as withdrawals expand
Binance recorded $2.3 billion in net inflows over the past 24 hours, reversing Monday's outflows of more than $7 billion, as it expanded withdrawals after the $6.3 billion hack on Thursday. Binance led centralized exchanges tracked by DefiLlama; Bitfinex saw about $280 million and Bitget about $127 million. Binance said hourly deposits exceeded withdrawals by 03:00 UTC. The exchange had suspended withdrawals on Friday, began restoring them at 06:00 UTC on Sunday, and said it had replaced about 95% of the affected assets, with the remaining 5% being less liquid tokens. It pledged to cover the losses using company resources and protection funds without passing them on to customers. The FBI attributed the attack to North Korea, which denied responsibility on Tuesday.
- North Korea Denies $6.3B Binance Hack, Calls FBI Finding a 'Political Provocation'
North Korea has denied involvement in the Binance hack, with Kim Yo Jong calling U.S. accusations a “sinister” attempt to damage the country's image and criticizing the Trump administration's plan to use confiscated crypto as a strategic reserve. The FBI attributed the theft to TraderTraitor, the group it also blamed for the $1.5 billion Bybit hack in February 2025, with about $2.85 billion of the $6.43 billion stolen frozen or seized. The funds are being laundered across about 12,000 wallets, with a new wallet created roughly every 25 seconds. Binance said net withdrawals reached $4.72 billion since withdrawals resumed on Sunday, hourly deposits exceeded withdrawals by late Monday, and it has covered about 95% of stolen assets.
- North Korea denies role in $6.4 billion Binance hack after FBI points to TraderTraitor
Related markets
Latest news
- 3 reasons why the tech stock rout is growing more alarming
Tech stocks are being sold more aggressively, columnist Brian Sozzi writes, even though Apple (AAPL) posted a strong quarter with double-digit iPhone sales growth and Palantir (PLTR) reported a big quarter and outlook; both fell in premarket trading on Tuesday. Analysts remain bullish, yet investors are not buying top tech names despite valuation discounts versus a month ago and historical averages, with Nvidia (NVDA) cited as an example. The S&P 493 has also started slipping as the market recognizes that most companies are tied to the AI boom; if AI-driven productivity gains arrive more slowly than expected, the entire market may need to be re-rated.
- Rate Hikes Could Be Coming: History Likes These 4 Bank Stocks
The Federal Reserve is gearing up to raise rates again, and Wall Street's four biggest banks are not equally positioned to benefit; history shows at least one of them lost ground in past tightening cycles. The Fed raised rates in September for the first time in 3 years, leaving the upper bound of the federal funds target range at 4.00%, and Kalshi traders put a 72% market-implied probability on another 25-basis-point hike at the December 9 meeting. Rising rates typically widen banks' net interest margins, but only JPMorgan rose in all three past hiking cycles; it trades at 13x forward earnings, the highest multiple in the group, with loan losses as its main risk. Bank of America estimates a 100-basis-point rise would add approximately $1.40 billion to net interest income over 12 months, but its main risk is unrealized bond losses, and the stock slid 24.8% in the last cycle. Citigroup has the cheapest multiple at 9x forward earnings but the weakest track record.
- Ontinue Extends Microsoft ISOC with 24/7 Managed Security Operations Through New MXDR Essentials Service
Ontinue, a leading MXDR partner based in Zürich, announced MXDR Essentials, a managed security service that extends Microsoft's Integrated Security Operations Center (ISOC) into 24/7 operations, combining Agentic AI, automation and its Cyber Defense Center. The service provides continuous investigation and response across the Microsoft Defender suite, covering endpoints, servers, email and identities, and is positioned as an accessible starting point for organizations that do not yet need a comprehensive MXDR service. Customers control how incidents are handled through Rules of Engagement and work with Ontinue via Microsoft Teams. Ontinue also introduced a Microsoft ISOC Deployment Package to help configure telemetry, integrations and automation.
- Dip Buyers in Leveraged Tech ETFs Are Getting Crushed
Billions flowed into leveraged semiconductor and tech ETFs as prices fell in October, but daily-reset funds make waiting for a rebound more costly the longer it takes. The Direxion Daily Semiconductor Bull 3X ETF (SOXL) drew $7.27 billion of net new money in October, about 29.91% of its $24.31 billion in assets, yet fell 47.89% over the month, while the ProShares UltraPro QQQ (TQQQ) drew $3.49 billion and fell 20.53%. Net flows do not show who bought, at what price, or whether they still hold. From October 6 to November 2, SOXL lost 58.50% versus 23.04% for the unleveraged iShares Semiconductor ETF (SOXX), reflecting the compounding effect of daily resets. To recover to its October 29 close, SOXL needs about 50.2% while SOXX needs about 13.3%.
- Anthropic targets doubling computing capacity to 7 gigawatts next year, NYT report
According to the New York Times, Anthropic expects more than 3.5 gigawatts of computing capacity by the end of this year and aims to double that next year, enough electricity to power all the homes in Chicago. The company has accumulated $895.4 billion in commitments for data centers, chips and computing power through 2045, per its updated IPO prospectus, with nearly $70 billion expected to take effect over the next 12 months. It sources computing power from neoclouds Fluidstack, Lambda and Nscale and has major agreements with Google ($121.3 billion), Amazon ($110 billion), Microsoft ($44.9 billion) and SpaceX ($120.5 billion). The company is also taking a more hands-on role in infrastructure, hiring construction and supply-chain specialists and buying equipment such as cooling systems. The article notes that access to electricity and computing infrastructure is becoming a critical competitive advantage, while raising questions about returns on increasingly expensive capacity commitments.
- CEO.CA's Inside the Boardroom: Gold Producer to Scale Molybdenum & Copper Supply Next to China: Erdene Resource Development
An interview video with Peter Akerley, President & CEO of Erdene Resource Development Corp. (TSX: ERD) (MSE: ERDN) (OTCQX: ERDCF), recorded on October 19, 2026 and issued on the company's behalf. According to the video, Erdene is using cash flow from gold production to unlock its portfolio of precious and base metals in Mongolia. The video is part of CEO.CA's 'Inside the Boardroom' series.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.