24H Web3 News Recap #565

Binance loses about $6.3B in the biggest crypto hack ever and suspends withdrawals

• Binance's first findings point to a compromised DevOps engineer's laptop that gave the attacker access to a service container and allowed unauthorized withdrawals.

• Binance says it found no evidence that wallet private keys were exposed.

• About $3 billion has been frozen, including $2.3 billion in USDT and USDC.

• Co-CEO Yi He said Binance will cover all losses from its roughly $1 billion SAFU fund and company funds.

• TRM Labs links the attack to North Korea's TraderTraitor group, and ZachXBT names the Lazarus Group.

• The stolen funds equal about 4% of Binance's roughly $144 billion in pre-hack holdings, per DefiLlama.

Source: CoinDesk

Polymarket pauses trading after a third-party breach, with about $2.65M stolen

The exchange switched to cancel-only mode and paused relayer actions while it investigated. Polymarket blamed a compromised third-party provider, which it did not name, and said it found and fixed the cause. Arkham data showed the suspected attacker's wallet swapping USDC.e into POL through Relay and holding about $2.65 million. Polymarket says it will fully reimburse affected traders, and trading is back online.

Source: The Block

Bitcoin drops from $81,890 to about $76,300 after news of the Binance hack

The slide came as long positions were liquidated after Binance confirmed the breach and suspended deposits and withdrawals. Bitcoin later recovered to near $77,800. CoinDesk reported ether fell 5.7% and BNB 8% on the news, while AAVE dropped 11% after Aave froze lending markets to stop the attacker borrowing against stolen funds.

Source: Bitcoin Magazine

Crypto liquidations reach $1.5B, including $468M in Bitcoin and $358M in Ether

Long positions took most of the losses as Bitcoin briefly dropped toward $76,000 early Friday. By the update, Bitcoin was down more than 3% over 24 hours at about $77,400, with ether and BNB falling slightly more. Standard Chartered's Geoffrey Kendrick said he expects prices to stay under pressure until frozen assets are released and more details of the hack come out.

Source: CoinDesk

Tether freezes over $1.567B USDT and Circle about $823M USDC tied to the Binance attacker

• Tether CEO Paolo Ardoino confirmed the USDT freeze on October 29.

• Circle said it is coordinating with law enforcement on the USDC freeze.

• Ripple reportedly froze about $200 million.

• World Liberty Financial restricted $27 million in USD1.

• Paxos froze 1,906.67 PAXG, worth over $8 million.

• Reported freezes total more than $2.6 billion.

Source: CryptoSlate

Polygon adds Solana as the fourth chain on its Open Money Stack payments platform

The platform lets businesses take money from bank accounts, move it across blockchains and pay recipients through one integration. It already connected Polygon, Ethereum and TRON, with TRON added earlier in October. Kira, which converts between dollars and stablecoins and pays overseas suppliers, is among the first users of the Solana integration. The launch follows Solana's Alpenglow upgrade, which cut finality from about 12.8 seconds to 150 milliseconds.

Source: The Block

NYSE owner ICE partners with TradeXYZ on US Hyperliquid perps, as HYPE jumps 15%

• ICE will run the regulated markets and build dedicated exchange and clearing infrastructure for the perps.

• TradeXYZ designs the markets and Hyperliquid supplies the technology through HIP-3.

• Contracts will cover crypto, equities, indices, commodities and forex, offered through participating brokers.

• ICE is also making a strategic investment in TradeXYZ.

• The deal still needs regulatory approval, and no launch date was given.

• HYPE traded near $91.21, below its $97.96 all-time high from last month.

Source: The Block

Kalshi raises $1B at a $40B valuation, up from $22B in May

Wellington Management and Sequoia Capital led the Series G round. The valuation nearly doubles the $22 billion set in May, when Coatue led a $1 billion Series F. Non-sports markets now bring in more than $1 billion in annualized revenue, according to The Wall Street Journal. The raise comes a day after Utah filed criminal charges against Kalshi and its co-founders over sports bets.

Source: Cointelegraph

HTX agrees to stop serving UK users in an FCA settlement, ending a 2025 lawsuit

Under the confidential settlement, HTX admits no wrongdoing but will not target, solicit or seek UK consumers through its website, apps or social media. UK users can no longer deposit, new UK users cannot sign up, and existing customers are told to follow HTX's withdrawal instructions. The FCA first warned about HTX promotions in October 2023 and sued in October 2025, winning High Court rulings against the exchange. Britain plans to bring more crypto activity under full financial regulation in October 2027.

Source: CoinDesk

KuCoin ends services in Russia and Belarus, after MEXC's exit on October 20

The ban takes effect immediately and covers all KuCoin products, with the exchange citing legal and regulatory requirements. Customers will be told separately about deadlines to close positions and withdraw funds, and KuCoin did not say how many users are affected. Bitget also restricted Russian and Belarusian users earlier in October. KuCoin paid a nearly $300 million US fine in January 2025.

Source: CoinDesk

Curve launches StableSwap on Stellar, its first native deployment outside the EVM

Users on Stellar mainnet can now create pools without permission, swap assets and provide liquidity. FXSwap, built for assets whose prices move against each other, will follow after its audit. Founder Michael Egorov said part of the demand comes from institutions. Stellar already hosts Franklin Templeton's tokenized money market fund, and Curve's total TVL across chains is about $1.27 billion, per DefiLlama.

Source: The Block

Alice & Bob says 29,588 qubits could break Bitcoin keys, 17x fewer than Google's estimate

Google's March 2026 estimate put the requirement at under 500,000 physical qubits. The Alice & Bob model would take about 62 minutes per key, against nine minutes in Google's model, which is slower than Bitcoin's 10-minute average block time. That still leaves coins at addresses with exposed public keys at risk, and more than 6 million BTC sit at such addresses. The two studies use different hardware designs, and the findings are theoretical.

Source: CoinDesk

Nvidia weighs billions in credit for Nscale's $45B Anthropic deal, The Information reports

The deal would supply Anthropic with compute from Nscale's West Virginia campus using Nvidia's Vera Rubin chips. Nvidia's credit support would help finance the build, but the exact amount was not reported. The deal is not yet fully financed or finalized, and talks are ongoing.

Source: Crypto Briefing

Google will make Jules read-only on November 11, folding the AI agent into Antigravity

• Active sessions must finish by November 11, after which Jules stops doing work.

• Full wind-down follows on December 31, and users can export some data and settings before then.

• Google will carry Jules' background task features into Antigravity, its agent-first development platform, but has not promised a one-for-one move.

• Jules began as a Google Labs experiment in late 2024 and reached general availability in August 2025.

Source: Crypto Briefing