The Troves protocol was exploited in an attack, losing approximately 8.6 BTC, and has offered a 1 WBTC white hat bounty to the hacker.

Binance has released an update on the security incident, stating that it has covered approximately 95% of the affected funds from the theft, an increase from the previously announced 90%. The remaining ~5% consists of tokens outside the top ten assets. Due to low market liquidity, Binance is still procuring these tokens via the open market and over-the-counter (OTC) channels, and more time is needed to reach the required scale. Binance also noted that user balances of BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have achieved 100% reserve coverage, and users can verify this via the Proof of Reserves (PoR) page. Binance reiterated that it will bear all financial losses resulting from the stolen funds and will not pass the losses on to users. Once the investigation is completed, the platform will also release a post-incident review report to disclose more details.

Per HTX market data, XPL dropped nearly 20% in the short term, now priced at $0.0727, with its market capitalization slumping to $408 million. In the past hour, XPL liquidations reached $24.4912 million, including $24.3106 million in long-position liquidations and $180,500 in short-position liquidations.

PeckShield data shows that 56 major security incidents hit the crypto industry in October 2026, with total losses reaching approximately $6.48 billion — a roughly 745% surge from the $766.49 million recorded in September. Among these incidents, the Binance security breach caused around $6.3 billion in losses, plus another $3 billion in assets frozen, making it the costliest crypto security event of the year to date. It outpaced Bitget (around $387 million) and Liquid Network (around $320 million), which ranked second and third respectively. Approximately $285 million of the funds lost in the Liquid Network incident has been recovered. As of October 31, the top 10 attack incidents by annual losses totaled around $8.6 billion, accounting for 92.3% of the year’s total losses; the statistic does not yet deduct frozen or recovered funds. Beyond the aforementioned incidents, Drift, KelpDAO/LayerZero, COLDCARD Wallet, and others also featured in the top 10 annual loss rankings.

According to Lookonchain's monitoring, the Binance attacker made an operational error while selling altcoins, dumping 908,793 PROM tokens (valued at around $5 million) into a nearly depleted liquidity pool on Uniswap V2. The attacker ultimately received only 0.0316 ETH, worth approximately $71, meaning the single operation resulted in a loss of roughly $5 million for the attacker.

The Binance hacker made a $5M mistake while dumping altcoins! The hacker sold 908,793 $PROM (worth ~$5M) into a nearly empty Uniswap V2 liquidity pool and received just 0.0316 $ETH ($71).

Binance has issued an update on its security incident recovery, announcing that Phase 1 withdrawal services will resume from 14:00 to 17:00 Beijing Time (06:00 to 09:00 UTC) on November 1. The first batch of supported networks and assets include BTC, ETH, BNB, TRX, SOL, XRP, ZEC, DOGE, TON, POL, AVAX, ARB, BASE, OP, and SUI. Deposit services remain fully open and unaffected by the incident. The exchange noted that withdrawal resumption will be phased, with specific assets and networks prioritized based on user demand data from the past week, and will be gradually rolled out after completing security and stability checks. Other networks and assets will be restored sequentially once ready. Due to high initial traffic, some users may encounter withdrawal delays or failures and are advised to retry later.