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Binance said it is probing a potential security breach after more than $2 billion moved out of one of its wallets to an outside account, with Blockaid putting the figure closer to $3.3 billion. Founder Changpeng Zhao said the incident appears to be a hack but that user funds remain safe, crediting Tether and Circle for quickly freezing roughly $971 million and $823 million respectively.
Polymarket paused trading on its international platform after a breach of a UK-based third-party vendor led to funds being drained from some users' wallets. Blockchain analytics firm Bubblemaps estimated about 700 users were affected and roughly $2.7 million stolen; Polymarket has notified UK law enforcement and pledged to refund affected traders. The company's US-regulated platform, Polymarket US, was not affected, and trading has since resumed.
Binance is probing a suspected security breach after reports that billions of dollars were moved from several of its hot wallets to a newly created Ethereum address. Tether and Circle have frozen more than $2.3 billion in USDT and USDC tied to the incident, while Binance says user funds remain safe and the matter is under active investigation.
Polymarket suspended trading Thursday after a compromised third-party provider distributed malicious JavaScript that drained user funds, with security researchers tracing about $2.5 million in POL tokens to a suspected attacker wallet. The platform briefly went into cancel-only mode, fixed the issue within roughly an hour, and resumed trading, saying all affected users will be reimbursed. The company has referred the incident to law enforcement but has not disclosed how many users were affected or the exact amount stolen.
New campaign finance data shows eight of the top ten donors for the 2026 midterm elections are backing Republican candidates and causes. Elon Musk's continued political spending has pushed the overall donor totals to record levels, with crypto and AI industry figures prominent among the biggest contributors.
A counterfeit crypto trading app called Padre Terminal was distributed through Apple's App Store and linked to the theft of roughly $23,000 from 27 Solana wallets, according to blockchain investigator Iris. The app allegedly drained funds after users entered their private keys, and has since been removed from the App Store. Iris traced the stolen funds to a Solana wallet address and said the attacker converted USDC holdings into SOL to avoid having funds frozen.
Google introduced Multi-Party Compute, a custody system that splits crypto private keys across multiple parties, at its first digital assets symposium in New York on October 28, 2026. Banks could hold one key share, with others distributed across Google Cloud and rival providers, requiring a threshold of shares to sign any transaction. Google says a commercial launch is planned for early 2027, though pricing and partners have not been disclosed.
Scammers who initiate contact via seemingly misdirected texts are leading victims into fake cryptocurrency investment schemes, encouraging them to deposit real money into crypto wallets controlled by the scammer. After victims attempt withdrawals, scammers cite fake taxes or fees requiring more deposits, then cut off contact once the victim can no longer be exploited. A secondary scam has emerged where scammers pose as recovery agents, lawyers, or hackers claiming they can retrieve lost funds for a fee contingent on success.
Robinhood reported third-quarter revenue of $1.42 billion, up 12% year-over-year but below some analyst expectations, with net income falling to $468 million from $556 million a year earlier. Transaction-based revenue rose 19% to $867 million, fueled by a surge in options and event-contract trading, but a 55% drop in cryptocurrency revenue weighed on results. Shares fell about 5% in after-hours trading following the report.
Crypto-industry political action committees have amassed $176 million in contributions ahead of the 2026 midterm elections, according to reporting on campaign finance figures. The funds are intended to back candidates viewed as favorable to digital-asset regulation in Congress.
Several major public companies have told a crypto trading platform to stop offering tokenized versions of their shares without authorization. The companies named include Microsoft, McDonald's and Verizon, who pushed back against the practice of issuing blockchain-based tokens meant to track their stock prices.
Digital wallets fall into four categories: closed wallets tied to a single merchant, semi-closed wallets usable across a limited network of merchants, open wallets such as Apple Wallet and PayPal that offer broader flexibility, and crypto wallets for digital currencies. Each type serves different purposes, from budgeting within one retailer's ecosystem to making payments across many locations.