Binance says 90% of stolen assets replenished - Reuters

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• A simple explainer of the massive $6.3 billion crypto heist at Binance

  The breach drained digital assets in just 20 minutes on Thursday, with experts pointing to North Korea's military-linked TraderTraitor unit as the likely culprit. While exchange partners managed to freeze roughly half of the stolen funds, crypto research firm TRM Labs warned that such proceeds are routinely funneled into state weapons proliferation. The unprecedented loss has intensified calls for stricter regulatory oversight, mandatory auditing, and insurance requirements across the digital asset sector.

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• Wall Street week ahead: All eyes on US midterm elections, jobs data; earnings from Apple, AMD and Palantir also in focus

  Financial markets face heightened volatility as a shift in congressional control could stall legislative priorities and complicate the macroeconomic environment. Meanwhile, incoming labor metrics will test recent growth momentum and guide expectations for central bank policy. Heavyweight corporate results will provide crucial clarity on whether robust profit margins can justify elevated tech valuations after a sharp Friday retreat.

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• Crypto firm Binance covers 90% of losses after $6.3bn hack

  Corporate treasury reserves and other company funds have provided more than $6.34bn to shield customers entirely from the historic cyberattack. Withdrawals across major tokens including bitcoin, ethereum, and Tether are scheduled to restart on Sunday, 1 November, while sourcing the final 10% of affected assets will require additional time. Meanwhile, international authorities are actively tracing the remaining capital after successfully freezing nearly half of the stolen sum.

  2 min read