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

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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.

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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 .

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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 .

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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…

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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 numbers

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

What to 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.

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