Crypto exchanges call for quick moves to bolster defenses after Binance heist

The US dollar weakened 0.5% to 101.45, while the euro gained 0.7% to $1.1234. Bitcoin and Ether rebounded slightly after a $6.3B heist at Binance, the world's largest crypto exchange. Traders monitored US midterms and central bank decisions. Brent crude fell 3.8% amid US-Iran conflict hopes. Binance customers withdrew $3.64B post-heist, but withdrawals are stabilizing.

Bitcoin traded at $77,926 on Monday, recovering from a low of $76,100 on Friday. Ether was at $2,285.83. U.S. spot bitcoin ETFs saw $643.3 million in outflows, with BlackRock's IBIT and Fidelity's FBTC leading. Binance resumed withdrawals, reporting $3.64 billion in net outflows. The hack's losses were estimated at over $6.3 billion by TRM Labs and Chainalysis.

The FBI confirmed North Korea's involvement in the $6.3 billion crypto heist from Binance, attributing it to the group behind the 2025 Bybit hack. Binance has restored withdrawals in phases and absorbed the financial impact. Scammers are exploiting the incident with fake compensation claims.

U.S. spot-Bitcoin ETFs saw $643.3M net outflows on Oct 30, erasing 63.6% of 2024 net inflows. BlackRock and Fidelity ETFs had the largest outflows. Assets under management fell to $98.14B. Binance hack and upcoming U.S. events may impact sentiment.

Binance, the world's largest crypto exchange, resumed withdrawals after a $6 billion hack, with the FBI attributing the attack to North Korea. The exchange pledged to cover losses, having replenished 90% of stolen funds. Major cryptocurrencies fell sharply following the news. Binance processed $4.65 billion in withdrawals and $1.01 billion in deposits on Sunday.

Bitcoin trades below $80,000 after a $6.3 billion theft from Binance and a six-week low. US midterm elections may impact markets. RBA and BoE rate hikes expected. Stocks under pressure from AI spending concerns. Crude oil falls amid Iran diplomacy. Gold remains below $4,000.