Founder @orbibtc | btc since 2017
Valhalla
Joined April 2019
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I just built "Orbi Btc" on Bitcoin Layer 1 with @opnetbtc @opnetbtc_eco 🍊💊
No bridges. No EVM. Real smart contracts on Bitcoin.
Check it out 👇
orbibtc.com
#opnetvibecode
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The Crypto Man retweeted
Speaking at the @OxfordUnion shortly. Scheduled a while back. Based on recent events, I don't think I am qualified or smart enough for this. 🤣
The Crypto Man retweeted
A little something that's not mentioned, and ppl may not even think about:
Binance did not borrow money
Binance did not sell assets
Binance did not raise money
Binance covered from its balance sheet.
This differs from other incidents that people keep wanting to compare to. 🙏
The Crypto Man retweeted
Today, we're beginning the phased resumption of withdrawals, taking a careful approach to ensure services return safely and securely.
We've now replenished approximately 95% of the impacted assets, and our commitment remains clear: Binance will absorb the financial impact of the stolen funds, not our users.
Thank you for your patience, understanding, and continued trust. We know this hasn't been easy, and we're committed to seeing the recovery through.
The Crypto Man retweeted
The FBI is releasing information advising the Democratic People's Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange, Binance, on or about October 29, 2026. The FBI refers to this specific North Korean malicious cyber activity as "TraderTraitor."
The FBI, together with partners at the USSS and IRS-CI, has observed TraderTraitor actors converting stolen assets primarily into Ethereum (ETH). It is expected these assets will then be further laundered by converting them using DeFi and instant swap services as they prepare them for further laundering stages.
How You Can Help:
FBI, USSS, and IRS-CI are urging private sector entities including THORNode operators, RPC node operators, instant exchanges, DeFi services, blockchain analytics firms, and other virtual asset service providers to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets.
A list of addresses associated with this activity is available here: fbi.gov/investigate/cyber/al…
ALT FBI public service announcement with Department of Justice seal in the background on a gold gradient.
The Crypto Man retweeted
We know how important trust is, especially in moments like this.
We've now replenished 90% of the stolen assets, and we're committed to covering the remaining 10%. Our users will not bear the financial impact of this incident.
We've also shared an updated Proof of Reserves snapshot, and we're working towards resuming withdrawals on November 1.
Thank you for your patience and trust. We'll keep you updated every step of the way.
The Crypto Man retweeted
Saw a few discussions about size of hack, why impact to bitcoin price is small, etc. 👇
$6.3 billion is the biggest in USD terms, but not in BTC terms. MtGox was 650,000 BTC!
Other important numbers to consider:
% of bitcoin (in relation to BTC total supply), ie, market impact. MtGox is big there again at 5%+.
Number of users impacted, and % of user assets impacted. MtGox (the largest CEX at the time) and FTX (not small) were all near 100% of users and their asseets.
Most important: Who is impacted? Does the platform cover it all? (only one victim), as in recent two CEX cases and Binance.
Obviously, still a major disaster for the industry, Binance (and me). It hurts, but we survive.
Most importantly, we protect our users.
(image from @MatthewRoszak)
The Crypto Man retweeted
Fancy a game of Budget Bingo?
@KanishkaNarayan breaks down where we’re investing in AI across the UK: strengthening national security, training homegrown chip talent and backing the best of British tech.
The Crypto Man retweeted
I want to speak to you directly about what happened.
Bottom line - your money is safe, and we're covering every loss.
Our initial investigation suggests this security incident may have started with a compromised DevOps engineer's laptop. That gave an attacker access to a service container, where they submitted unauthorized withdrawal transactions.
To be clear: the attacker did not simply use one engineer's permissions, and this was not a single "one-click" action. It involved a more complex attack process. Our investigation has not attributed responsibility to any individual.
So far, we have found no evidence of any wallet private key leak.
We'll share a detailed technical post-mortem once the investigation is complete and every fact is verified - and publish an updated Proof of Reserves once remediation is complete.
What you need to know:
• Your funds are safe
• Binance will cover all losses from the SAFU fund and company funds
• Estimated total impact: ~$6.3B, with ~$3B frozen on-chain so far, in coordination with our blockchain partners
• No evidence of any wallet private key leak
• Deposits are unaffected and operating as normal
What we've done:
• Temporarily suspended withdrawals while we complete a security revamp of the withdrawal service and its related addresses
• Revoked the affected address authorizations
• Engaged law enforcement and blockchain intelligence partners to trace and recover funds
Our team hasn't stopped. We're working closely with law enforcement to ensure the matter is handled appropriately - and I'll share what I can, as soon as I can.
The Crypto Man retweeted
The reason why the market is down only 2-3% after the biggest crypto hack in history is simple: there's no domino effect.
Unlike FTX and other collapses, this won't trigger a chain reaction of bankruptcies, liquidations and further losses across the industry.
Money was stolen from the world's biggest exchange. Binance has the funds to cover it. Nobody else takes the hit.
Why would the market crash over an isolated incident involving the player with the deepest pockets in the industry?
No contagion. No bankruptcy risk. No domino effect.
The Crypto Man retweeted
In 2023, after news of the $4 billion fine, Gulf, our partner in Thailand, asked: “do you need help with cash liquidity?” We didn’t, but I appreciated the gesture.
Today: “know you can cover, but we are here if needed.”
Strong partners show in tough times. 🙏
Official Statement Regarding Recent News on Binance Security Incident
In light of recent news regarding a cybersecurity incident involving Binance, Gulf Binance Co., Ltd. would like to confirm that customer digital assets on Binance TH remain completely safe. The Cold Wallets of Binance TH are strictly segregated from those of Binance, as Binance TH operates as an independent legal entity with its own dedicated digital asset custody system.
As a proactive precautionary measure, we would like to inform you that digital asset deposits and withdrawals are temporarily suspended while our expert team conducts a thorough security check. All other services on the platform continue to operate as normal, and we will resume deposit and withdrawal operations as soon as the verification process is completed.
The security of our customers' digital assets remains our highest priority. We remain fully committed to maintaining strict security standards to ensure absolute confidence among all our clients.
We sincerely apologize for any inconvenience caused.
The Crypto Man retweeted
Seems token recovery already began.
Another little detail in addition to the effort described, users pay trading fees on Binance in the coins they trade, so Binance's naturally accumulates all tokens they list.
Your funds are SAFU!
Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.
The company has already publicly committed to cover losses through company funds in the prior announcement.
Binance has already reserved over $6.34B of company funds to cover this incident. $5B of these funds are already held in the exact token assets that were impacted. We are completing the purchase of the remaining amount by buying token assets through market channels and OTC channels. We are doing this to match the format of the remaining token assets and address any asset shortfalls. This step can take longer because some tokens may have low liquidity and OTC settlement also takes time. We will share more progress as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification. Currently, $3bn has been frozen, with thanks to our industry partners. We are working with partners and law enforcement to recover the frozen assets.We will continue to use company resources to cover confirmed shortfall and will provide further verified updates as recovery efforts progress. Ultimately, all user funds will be verified publicly through our Proof of Reserves.
We will weather this storm. Thank you for the support.
The Crypto Man retweeted
We are aware of differing figures circulating publicly regarding the amount frozen, including references to $1.8 billion.
For clarity, the current verified total frozen is $2.54 billion. This figure may continue to increase as our teams work closely with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze additional assets.
We will only share confirmed figures and will provide further updates as more verified information becomes available.
The Crypto Man retweeted
USD1 has taken proactive steps to freeze the $27 million in USD1 associated with the @binance hack. We stand by our industry partners. Protecting users and preventing bad actors from moving stolen funds is a shared responsibility.
BREAKING: World's largest crypto exchange Binance hacked with over $5.6 billion stolen:
• $1.45 billion $BTC
• $875 million $ETH
• $234 million $TRX
• $50 million $XAUT
• $1.57 billion $USDT
• $823 million $USDC
• $75 million $WBETH
• $88.5 million $RLUSD
+ $447.5 million additional cryptocurrencies
This is the largest hack in crypto history.
I get the panic everyone but Binance has confirmed they will cover the funds. Your Funds are safu
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The Crypto Man retweeted
User funds are safe!
It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m).
I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered.
The Crypto Man retweeted
Ripple is closely monitoring reports of a potential exploit involving Binance and its attackers’ RLUSD holdings and we are actively freezing affected funds. We’re coordinating with relevant parties and stand ready to support any investigation and appropriate action to keep users protected.
The Crypto Man retweeted
We’ve secured High Court undertakings to ensure global crypto exchange HTX will not knowingly promote cryptoasset services unlawfully to UK consumers.
HTX is no longer active in the UK. UK users should visit its website for information about the availability of its services and arrangements for withdrawing any residual assets.
fca.org.uk/news/press-releas…
#FightingFinancialCrime #Crypto #Cryptoassets #FinancialRegulation
