# BSCN Debrief: North Korea and the Binance Hack *The FBI names TraderTraitor, Trump weighs engagement, and Hong Kong opens 24/7 tokenized settlement. Here's what mattered.* By [The BSCN Debrief](https://paragraph.com/@bscnalpha), 2026-11-02 crypto news, bitcoin, newsletter, binance hack, hong kong --- [![](https://storage.googleapis.com/papyrus_images/cff0a300a78a38569bed3bc946b80b641bfdc62f3ddb6012c22c9722bdb5a248.png)](https://bscnhive.com/bscninsider) 📲 **Want fast news direct to your inbox?** Join the BSCN Insider club on Telegram for breaking stories and market moves the moment they land. **JOIN NOW:** [bscnhive.com/bscninsider](https://bscnhive.com/bscninsider) Breaking News ------------- [**FBI Attributes $6.3 Billion Binance Hack to North Korea's TraderTraitor Group**](https://bsc.news/news/fbi-north-korea-binance-hack-tradertraitor) ![](https://storage.googleapis.com/papyrus_images/0b3ec661d7aebcf74e6cbfad0da1d36227bfe001ffa5181841a370dd4a140c00.jpg) The FBI has attributed the theft of more than $6 billion from Binance to North Korea, formally naming the state-linked hacking group TraderTraitor and notifying exchanges and blockchain companies to freeze any funds they can identify. [**Trump Says US Could Engage North Korea If Behind $6.3 Billion Binance Hack**](https://bsc.news/news/trump-binance-hack-north-korea-tradertraitor) ![](https://storage.googleapis.com/papyrus_images/975c4d5ac8451aa657d3a6e883e41ebef6766020842383aa620295a73d1714b7.png) President Trump said Washington could engage with Pyongyang if North Korea is found to be behind the $6.3 billion hack of Binance, opening a diplomatic route in what has become the largest crypto theft on record. [**Hong Kong Monetary Authority Enables 24/7 Tokenized Settlement Under Project EnsembleTX, Plans Stablecoin Trials**](https://bsc.news/news/hong-kong-ensembletx-24-7-tokenized-settlement-redcoin) ![](https://storage.googleapis.com/papyrus_images/661ca0728e37490facc3301eeb9380e5f5d286447c89b389fb627cf7e3e9e3e2.jpg) The Hong Kong Monetary Authority has moved its tokenized settlement work into a new phase that allows transactions to settle around the clock, while preparing to bring regulated stablecoins into trials involving tokenized government debt. [**Binance Hacker Sells 499 Billion Shiba Inu (SHIB) Among 130 Altcoins for $279 Million**](https://bsc.news/news/binance-hacker-sells-499-billion-shib) ![](https://storage.googleapis.com/papyrus_images/cbff653bc9d9989180fa1423b4661967668205cf47a9606ce67a82ca5b392583.png) The attacker behind the $6.3 billion security breach at Binance has sold more than 130 altcoins, raising about $279 million in total, and included a large position in Shiba Inu. What the Markets Think ---------------------- * [**Will Bitcoin close above $80,000 in November 2026?**](https://polymarket.com/event/bitcoin-above-80000-in-november-2026?via=BSCNews) 67%. Traders are bullish even as the Binance hack sends liquidity offsite; BTC held near $78,000 through the weekend. * [**Will the S&P 500 open higher on November 2?**](https://polymarket.com/event/sp-500-up-or-down-on-november-2?via=BSCNews) 76%. Tradfi odds mirror crypto resilience as markets digest the Binance breach without broader contagion. * [**Will North Korea hack more than $2 billion in 2026?**](https://polymarket.com/event/total-crypto-hack-value-in-2026?via=BSCNews) 89%. TraderTraitor just cleared $6 billion in one weekend, so that's a yes. The Big Story ------------- [**Binance Records 2.1% Net Outflow After Resuming Withdrawals, Co-Founder CZ Says 98% of Users Stayed**](https://bsc.news/news/binance-net-outflow-withdrawals-resume-cz) ![](https://storage.googleapis.com/papyrus_images/4f7e349f55de566b74befe5658a78df042bbebadc3be3da70fdd12f6d4bb544e.png) Binance co-founder Changpeng Zhao said the exchange recorded a 2.1% net outflow after it resumed withdrawals, with most of the movement happening in the first 12 hours and the rate of withdrawals declining sharply afterward. The exchange had paused withdrawals for nearly three days following the $6.3 billion hack, which the FBI has now attributed to North Korea's TraderTraitor group. The 98% retention figure suggests users are treating this as an external attack rather than an exchange solvency crisis. Binance has [restored withdrawals for XRP, DOGE, BTC and ETH](https://bsc.news/news/binance-restores-xrp-doge-withdrawals) as part of a phased reopening, with more assets expected to come back online in the days ahead. Top Stories ----------- [**Lummis Cites $6.3 Billion Binance Hack in Renewed Push for CLARITY Act**](https://bsc.news/news/binance-hack-lummis-clarity-act-freeze) ![](https://storage.googleapis.com/papyrus_images/91c3df7094a11d3d20a1fa222230af43135c87e72ea79f18ebb20d7e06dd70b6.png) Sen. Cynthia Lummis says the $6.3 billion hack of Binance shows why the CLARITY Act matters, as the incident revives debate in Washington over whether existing law gives agencies clear authority to freeze stolen crypto in real time. The bill would clarify that US regulators can order freezes on digital assets linked to illicit activity, a power some argue already exists but which has produced inconsistent enforcement. [**Core Network Hard Fork Recovers 68.15 Million CORE From Attacker Addresses After b14g Exploit**](https://bsc.news/news/core-network-hard-fork-recovers-core-tokens) ![](https://storage.googleapis.com/papyrus_images/7d438c3f54743dd48ab93a500a776675a1c879e9daa4a77a5b36f3a73f3e510e.jpg) The Core network has carried out a hard fork that recovered 68,146,177 $CORE from three attacker-controlled addresses, following an exploit on October 31 that involved about 97.05 million tokens. The update was activated after validators reached consensus on the recovery plan, and Core said it would release a full post-mortem once the incident response is complete. [**Uber Completes Tokenized Cash Management Pilot on Canton Network With HSBC and Franklin Templeton**](https://bsc.news/news/uber-canton-network-tokenized-cash-pilot) ![](https://storage.googleapis.com/papyrus_images/cea67b245f5f396d03d0cce847d4faaebdef33ed8ba4ec6189f25c82d952e60c.png) Uber has completed a pilot of a tokenized cash management system on the Canton Network, working with HSBC and Franklin Templeton to test a system that moves corporate cash between accounts and investment products without leaving the blockchain. The pilot used tokenized money-market-fund shares from Franklin Templeton and tokenized deposits from HSBC, letting Uber's treasury team shift capital in real time. Deep Dive of the Week --------------------- [**Famous Chains Built With Cosmos Technology: dYdX, Injective, & More**](https://bsc.news/post/chains-built-with-cosmos) ![](https://storage.googleapis.com/papyrus_images/95f9e0d648bdb806b99137c4ccd076661a12a6b912a9304f81ddf284c3680d54.webp) The best-known chains built with Cosmos technology include dYdX Chain, Injective, Celestia and Cronos, but the SDK's reach extends further than most realize. Wells Fargo uses Cosmos ledger technology for its tokenized deposit project, and as of September 2026, the maintainers count more than 800 projects building with the SDK. By the Numbers -------------- * **68,146,177 $CORE recovered:** Core network's hard fork claws back roughly 70% of tokens taken in the b14g exploit, leaving about 29 million still unaccounted for. * **2.1% net outflow:** Binance's withdrawal bleed after resuming service, with CZ calling it a sign that 98% of users stayed put despite the largest crypto hack on record. * **$31.73 million:** Ether.fi Cash posts its highest weekly spend volume to date as the crypto card product gains traction. * **20% staking ratio:** Monad's $MON token hits the milestone, trailing Injective and Avalanche but ahead of most layer-1 launches at similar ages. * **$1.77 million:** Largest daily outflow since launch for Chainlink spot ETFs, breaking a quiet stretch as the products recorded their first notable withdrawal day. On Our Radar ------------ * **Canton and institutions:** Hong Kong's EnsembleTX goes live with 24/7 settlement, Uber finishes a tokenized cash pilot with HSBC and Franklin Templeton, and Standard Chartered launches tokenized deposits. The infrastructure banks will actually use is being built right now. * **THORChain and the FBI:** Co-founder Chad Barraford says THORNode operators hold no private information beyond what is already on public blockchains, responding to reports that the FBI has requested data tied to addresses used in the Binance hack. * **Starknet on quantum resistance:** The network says its native account abstraction design could make the shift to quantum-resistant cryptography easier than on other major blockchains, as the industry weighs long-term threats. * **Pi Network dev updates:** Four releases targeting developers and third-party businesses, including SoloHost AI packaging and PiVerify expansion, as the project continues building out its platform layer. _Until Wednesday._ --- *Originally published on [The BSCN Debrief](https://paragraph.com/@bscnalpha/bscn-debrief-north-korea-and-the-binance-hack)*