Hour in Review — 2026-11-03 06:00 UTC 31 sources
Two threads dominate the hour: the fallout from the $6.3 billion Binance hack, and US voters heading to the polls. The FBI attributes the hack to North Korea's TraderTraitor group 1, a claim Kim Yo Jong rejected as politically motivated 2. Binance has seen $4.72 billion in net user outflows and says it is covering 100% of losses from its own balance sheet 1. Data show it has spent roughly half its SAFU bitcoin, about $580 million, leaving the fund below its $800 million top-up threshold 3. Experts expect laundering of the stolen funds to take months 4. Meanwhile, Arbitrum's council moved $30 million of hack funds without the hacker's key by briefly altering a core contract and then reverting it 5,6, a notable intervention in its own right. Ethereum dipped about 4% after the hack, which Tom Lee called bullish 7. Separately, US Bitcoin ETFs saw $399 million in outflows and Ether funds lost $140 million 8. Solflare has restricted code access after a run of crypto attacks 9. In the US, polling stations are open nationwide for congressional elections 10, with polls showing voters focused on affordability 11. A deluge of lawsuits was filed before polls closed 12, and Trump urged voters to pretend he was on the ballot 13. A record 52% of farmers named high input costs as their chief concern 14. In Ukraine, Russia launched a massive overnight attack on energy infrastructure, with Ladyzhyn hardest hit 15. A strike on a Kharkiv medical facility injured 62 people and forced the evacuation of 226 patients 16, and the death toll in Komyshuvakha rose to 29 with 48 missing 17. Kyiv's funicular and several trams and trolleybuses stopped running due to power supply problems 18. In the other direction, drones set fire to the Yaroslavl refinery, which supplies Russian military fuel 19, and Zelenskyy confirmed a Ukrainian cyberattack on Russia's emergency alert system 20. In the Gulf, US forces struck Iran's Qeshm Island in retaliation for IRGC fire on an aircraft 21, and the IMO warned that Hormuz remains unsafe because of mine threats 22. Even so, Middle East oil flows are rising, with supply outpacing demand for the first time since July 23. Elsewhere, Australia raised rates to their highest level since 2008 24. Nvidia is telling cloud clients that at least 51% of their services must go to non-Chinese firms 25,26. Marvell plans a $115 billion all-stock deal for Lumentum 27, and Oracle is raising $20 billion in debt and equity 28,29. The EU will probe cyberattacks that disrupted supermarket refrigeration in at least six countries 30, and Belgian PM Bart De Wever offered his resignation over a failed 2027 budget deal 31.
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