Friday's fast-moving crypto and energy stories dominate today's update: Binance says withdrawals will return within 48 hours after a record-breaking security breach, while Brent crude has climbed to a six-month high as tensions around the Strait of Hormuz keep markets on edge. Here is what the latest reporting shows.
Binance says withdrawals will resume within 48 hours after record hack
Binance has said withdrawals will resume within 48 hours, according to a post on X by co-founder Yi He, narrowing earlier wording that had suggested a full freeze. A later update from the exchange clarified that deposits are unaffected and only withdrawals remain suspended while the withdrawal service undergoes a security revamp.
Blockchain intelligence firm TRM Labs has attributed the heist to North Korea's TraderTraitor unit, calling it the largest cryptocurrency theft on record. Binance's initial findings point to a compromised DevOps engineer's laptop that gave an attacker access to a service container, from which unauthorized withdrawal transactions were submitted. The exchange says no wallet private-key leak has been found.
The scale remains staggering: an estimated $6.3 billion in assets were affected, with around $3 billion frozen so far, including $1.576 billion in USDT frozen by Tether. The turmoil triggered $1.53 billion in liquidations over 24 hours, of which $1.29 billion were long positions. Binance has pledged to cover all losses, and user funds are reported safe.
Oil climbs to a six-month high as Hormuz tensions persist
Brent crude climbed to around $118 a barrel, up about 2.5 percent to a six-month high, compared with $116.08 earlier in the day, while West Texas Intermediate traded near $104. A live snapshot put Brent at $116.74 at 07:24 UTC. The rally is driven by the tanker attack in the Strait of Hormuz and fears of United States strikes after next week's midterm elections. The December Brent contract expires today, adding to the volatility.
There were no new world incidents beyond the Hormuz items already reported: live updates from the Gulf press on Friday morning repeated the same Thursday events, including four tankers affected, Saudi interceptions over Riyadh, and a drone intercepted over the Makkah region. An unverified single-source claim of United States strikes on Iranian sites has not been corroborated by major outlets and is not included here.
Exchange watch: no new delistings, but a busy calendar today
There were no new spot exchange delisting announcements in the latest check. Several previously announced changes fall due today, October 30: Binance removes 12 spot pairs and 10 margin pairs, Coinbase converts 14 assets for European Economic Area users, and comments are due on the United States Trade Representative's proposed suspension of shipping fees, with a possible extension to January 9, 2027 still only a proposal.
Looking ahead, Coinbase converts VELO on November 2, the United States holds midterm elections on November 3, and Israel's final election results are due November 4. Further exchange changes follow through November, including Coinbase, Bitvavo and Kraken actions on November 6 and Binance Pool's global shutdown on November 10.
Market snapshot
Bitcoin traded near $78,117, down about 2.22 percent, holding above an intraday low of $76,500, while Ether traded near $2,240 after dipping below $2,200. Oil remained the standout mover, with Brent near $118 intraday against $116.08 earlier in the day. An $11 billion Bitcoin options expiry fell due at 13:00 PKT today, a major event traders had been watching all week.
Sources
Binance hack and withdrawal timeline: Nikkei Asia, Business Times, TradingView and Seeking Alpha, CoinDesk, and Binance's official statements including co-founder Yi He's post on X. Attribution to North Korea's TraderTraitor unit: TRM Labs. Frozen funds and liquidation figures: Tether, CoinDesk and CoinGlass. Oil prices and drivers: Economic Times and PriceOfOil live data. Gulf and Hormuz updates: Gulf News live coverage. Market prices: Finnhub live data and CoinDesk.
