Major Hacks and Geopolitics

On Monday, November 2, the crypto industry faced a series of critical incidents and geopolitical events. The main news includes THORChain halting operations in ten networks and large-scale platform hacks.

The decentralized finance protocol THORChain temporarily suspended operations on ten blockchain networks. This decision was made to ensure user fund security and conduct technical maintenance.

Over the weekend, several major fund leaks were recorded from various cryptocurrency platforms. Specifically, hackers stole $106 million in assets from Mercado Bitcoin and successfully attacked the MEV bot King.

Additionally, the trade.xyz service was hacked, further highlighting the importance of smart contract audits and security measures for decentralized application developers.

Geopolitical tensions continue to impact markets. The US is considering a nuclear strike on Iran, while Donald Trump has spoken out on oil and regional stability issues.

North Korea has been cleared of involvement in the recent Binance hack, according to new investigation data. Meanwhile, trader Sailor continues to increase their Bitcoin positions.

On the regulatory front, Tether initiated the burning of part of its USDT supply, which could affect the stablecoin's liquidity. Discussions are also ongoing regarding fund withdrawals from Binance exchange and cryptocurrency trading on the Moscow Exchange.