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Morning edition · November 3, 2026

Binance Audits Reserves After $6.3B Hack as Arbitrum Freezes Stolen Funds

Binance deployed a zero-knowledge reserve audit following its historic breach, while onchain responders and federal agents work to trace and freeze the stolen assets.

  1. 1

    Binance Deploys ZK Proof of Reserves Following $6.3B Breach

    Binance issued zero-knowledge reserve proofs confirming full backing for 10 core assets following an Oct. 31 snapshot [1]. The exchange committed $6.34 billion from corporate and SAFU reserves to cover the Oct. 29 security failure, while partners froze roughly

  2. 2

    Arbitrum Security Council Freezes Attackers' Assets

    Arbitrum's Security Council utilized a temporary L1 Inbox upgrade to freeze 8,425 $ETH and 74.5 million $ARB linked to the Binance exploit [3]. The intervention generated unsigned transactions to seize control of the balances, which now sit in a DAO-controlled

  3. 3

    FBI Identifies North Korean Group in Binance Heist

    The FBI attributed the Binance theft to North Korea's TraderTraitor group, as attackers swapped $46.4 million in $SOL for $BTC via the Relay bridge [5]. While central issuers froze roughly $3 billion, attackers retain an estimated $3.5 billion [5].

  4. 4

    Mercado Bitcoin Suspends Withdrawals After $40M Breach

    Brazilian exchange Mercado Bitcoin halted transactions on Nov. 2 after detecting a network intrusion [4]. Security firm Hypernative flagged over $40 million in suspicious transfers, while Tether froze more than 4.5 million $USDT connected to the incident [4].

  5. 5

    New Jersey Drops Coinbase Staking Order and Fine

    The New Jersey Bureau of Securities withdrew its 2023 cease-and-desist order and vacated a $5 million penalty against Coinbase without prejudice [2]. The move restores local access to staking rewards, though enforcement actions continue in four other states [2

Numbers

Bitcoin trades at $76,969, leading a $2.59 trillion market capitalization with 59.4% dominance, while ETH gas remains at 0 gwei.

Watch

Binance's deployment of additional network withdrawal routes on Nov. 3 and the multi-token reserve snapshot on Nov. 4. · ArbitrumDAO's upcoming governance proposal to determine the disposition of frozen ETH and ARB. · State administrative hearings regarding Coinbase staking in California, Maryland, Wisconsin, and Washington.

Full text

Binance deployed a zero-knowledge reserve audit following its historic breach, while onchain responders and federal agents work to trace and freeze the stolen assets.

  1. Binance Deploys ZK Proof of Reserves Following $6.3B Breach Binance issued zero-knowledge reserve proofs confirming full backing for 10 core assets following an Oct. 31 snapshot. The exchange committed $6.34 billion from corporate and SAFU reserves to cover the Oct. 29 security failure, while partners froze roughly $3 billion.

  2. Arbitrum Security Council Freezes Attackers' Assets Arbitrum's Security Council utilized a temporary L1 Inbox upgrade to freeze 8,425 $ETH and 74.5 million $ARB linked to the Binance exploit. The intervention generated unsigned transactions to seize control of the balances, which now sit in a DAO-controlled address.

  3. FBI Identifies North Korean Group in Binance Heist The FBI attributed the Binance theft to North Korea's TraderTraitor group, as attackers swapped $46.4 million in $SOL for $BTC via the Relay bridge. While central issuers froze roughly $3 billion, attackers retain an estimated $3.5 billion.

  4. Mercado Bitcoin Suspends Withdrawals After $40M Breach Brazilian exchange Mercado Bitcoin halted transactions on Nov. 2 after detecting a network intrusion. Security firm Hypernative flagged over $40 million in suspicious transfers, while Tether froze more than 4.5 million $USDT connected to the incident.

  5. New Jersey Drops Coinbase Staking Order and Fine The New Jersey Bureau of Securities withdrew its 2023 cease-and-desist order and vacated a $5 million penalty against Coinbase without prejudice. The move restores local access to staking rewards, though enforcement actions continue in four other states.

Numbers Bitcoin trades at $76,969, leading a $2.59 trillion market capitalization with 59.4% dominance, while ETH gas remains at 0 gwei.

Watch

  • Binance's deployment of additional network withdrawal routes on Nov. 3 and the multi-token reserve snapshot on Nov. 4.
  • ArbitrumDAO's upcoming governance proposal to determine the disposition of frozen ETH and ARB.
  • State administrative hearings regarding Coinbase staking in California, Maryland, Wisconsin, and Washington.

Basis Desk Newsroom · AI-generated, source-verified. Built only from stories already verified and published on Basis Desk; market figures as of publication. Not financial advice.