Binance robot repairing hot wallet security after major crypto hack

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Binance Prepares to Reopen Withdrawals After $6.36 Billion Hack

<h2>Platform says provider was compromised as researchers trace millions in losses</h2>TL;DR<ul><li>Polymarket temporarily restricted trading after a compromised third-party provider affected its international platform.</li><li>Arkham identified a suspected attacker wallet holding about $2.65 million in POL after several token swaps.</li><li>Polymarket resumed trading after fixing the issue and said affected traders would be fully reimbursed.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Polymarket&nbsp;<a href="https://x.com/PolymarketTrade/status/2115880034246484243?a=09LaBURgJbwEvAIPKsY&amp;s=20">resumed trading</a> on Oct. 29 after a third-party provider was compromised in an exploit that caused user losses on its international platform. The prediction market temporarily stopped normal trading and relayer activity while investigating, then said it had found and fixed the cause and would fully reimburse affected traders.<figure class="image"><img src="https://cdn.coin360.com/Screenshot_2026_10_30_035355_a790f0bb32.png" alt="Screenshot 2026-10-30 035355.png"></figure>Polymarket first said at 2:33 p.m. ET that it had identified an issue affecting Polymarket.com and paused trading as a precaution. During the investigation, the exchange entered cancel-only mode, allowing existing orders to be canceled while preventing new orders and trades from processing. Relayer actions were also paused.<figure class="image"><img src="https://cdn.coin360.com/Screenshot_2026_10_30_035338_ae6e4576ae.png" alt="Screenshot 2026-10-30 035338.png"></figure><blockquote>“We're still looking into this,” the platform said. “The exchange is in cancel-only mode. You can cancel orders, but no new orders or trades are processing. Relayer actions are paused while we investigate.”</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Third-party provider identified as source of incident</h2>Polymarket later said it had “found the cause” and fixed the issue. The company attributed the incident to a compromised outside service and said law enforcement had been contacted.<figure class="image"><img src="https://cdn.coin360.com/Screenshot_2026_10_30_035702_95467c4c03.png" alt="Screenshot 2026-10-30 035702.png"></figure><blockquote>“We’ve identified and fixed an issue impacting our international platform. One of our third-party providers was compromised, and we have referred this to relevant law enforcement,” Polymarket said. “Anyone who has been impacted will be made whole.”</blockquote>Trading resumed at approximately 3:00 p.m. ET. Polymarket subsequently said, “we’ll make this right and are fully reimbursing all affected traders.”0xngmi, the pseudonymous developer behind&nbsp;<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a> analytics resource DeFiLlama, said the incident involved a company providing web performance tracking whose scripts were loaded by Polymarket.<figure class="image"><img src="https://cdn.coin360.com/Screenshot_2026_10_30_035756_b9d6719c38.png" alt="Screenshot 2026-10-30 035756.png"></figure><blockquote>“Attacker attacked a company that does web performance tracking and whose scripts were being pulled on Polymarket, so everyone who visited polymarket got exposed,” 0xngmi wrote, adding that users’&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> seed phrases remained safe.</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Arkham traces suspected attacker funds</h2><a href="https://coin360.com/coin/arkham-arkm">Arkham</a> data&nbsp;<a href="https://arkm.com/explorer/address/0x3F99139F1C5854bb628c2e576Aaf638e99dFfc18">identified</a> a wallet believed to belong to a suspected attacker holding about $2.65 million in&nbsp;<a href="https://coin360.com/coin/polygon-ecosystem-token-pol">POL</a>. The wallet showed multiple recent swaps from&nbsp;<a href="https://coin360.com/coin/usd-coin-usdc">USDC</a>.e into POL through Relay before funds were later moved to different addresses.Separately, 0xngmi said roughly $2.7 million in losses had been tracked in connection with the exploit. The figures describe different observations: Arkham tracked the value held by a suspected attacker wallet, while 0xngmi estimated losses attributed to the incident.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Earlier Polymarket security incidents</h2>Polymarket also suffered a security breach in May that resulted in approximately $700,000 in cryptocurrency being stolen after hackers compromised a six-year-old&nbsp;<a href="https://coin360.com/glossary/private-key">private key</a> used for internal operations. Bubblemaps reported that attackers transferred POL across 16 addresses, including addresses associated with cryptocurrency exchanges.Polymarket said customer funds,&nbsp;<a href="https://coin360.com/glossary/smart-contracts">smart contracts</a> and market resolution systems were unaffected by that earlier incident. The company rotated the compromised key, revoked production permissions and said it planned to migrate its&nbsp;<a href="https://coin360.com/glossary/private-key">private keys</a> to a more secure key management system.Other earlier issues included an alleged governance attack last year involving a market on whether Ukraine would agree to President Trump’s mineral deal by a specified date. Suspicious outflows tied to Polymarket’s UMA CTF Adapter infrastructure on&nbsp;<a href="https://coin360.com/coin/polygon-ecosystem-token-pol">Polygon</a> also prompted an internal investigation earlier this year.This article has been refined and enhanced by ChatGPT.

Blocky robot resuming trading operations at Polymarket prediction platform

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Polymarket Resumes Trading After Third-Party Exploit Hits Users

<h2>SEC exemption lets issuers block third-party tokenized share listings</h2>TL;DR<ul><li>Walmart, Eli Lilly, Cigna Group, Carnival and Arcos Dorados joined the companies objecting to OKXICE TSV.</li><li>The latest opposition extends beyond technology and finance into retail, health care and travel.</li><li>Under the SEC exemption, a timely written objection blocks an unaffiliated third-party tokenized listing on that venue.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Walmart, Eli Lilly, Cigna Group, Carnival and Arcos Dorados have<a href="https://www.okx.com/cdn/assets/okfe/web3-activities/okxicetsv/notices/OKXICE_Tokenized_Securities_Venue_Public_Notice_26.10.28.pdf">&nbsp;objected to</a> having tokenized versions of their shares offered on OKXICE TSV, according to an updated notice dated October 28. The five additions bring the number of objecting companies to 38 as corporate resistance spreads across more industries. Walmart is the world’s largest retailer by revenue, while Cigna and Carnival add health insurance and travel companies to the growing group.The total represents roughly 60% of the 63 companies initially identified for tokenization. Together, the objecting companies represent more than $19.4 billion in combined market cap. Eli Lilly is one of the world’s most valuable pharmaceutical companies and a major participant in the weight-loss drug market. Arcos Dorados has been described as the largest independent McDonald’s franchisee globally and the largest McDonald’s franchisee in Latin America, joining McDonald’s itself among companies opposing listings.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Objections have climbed quickly since mid-October</h2>The objection tally has risen sharply since OKXICE TSV published its first list. A<a href="https://coin360.com/news/okx-ice-tokenized-stocks-issuer-objections">&nbsp;prior update</a> added Coca-Cola, JPMorgan Chase, Dell Technologies, AMD, Applied Materials, Adobe and Sandisk. Other earlier objectors include Microsoft, Google parent Alphabet, Intel, Oracle, IBM, Goldman Sachs, Wells Fargo, McDonald’s, Verizon, UnitedHealth Group and Moderna.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Stage</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Objecting companies</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Development</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 15</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">9</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">First published list of objectors</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 19</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">16</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Microsoft was among the names added</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">October 23</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">22</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Wells Fargo joined the list</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Prior update</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">33</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Seven newcomers included JPMorgan Chase, Coca-Cola and Dell</td> </tr> </tbody> </table></div><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SEC rules give companies a formal objection mechanism</h2>The objections have direct consequences under the U.S. Securities and Exchange Commission’s innovation exemption, which the agency introduced in September after the Clarity Act stalled in the Senate. The temporary regulatory relief allows qualifying platforms to facilitate tokenized stock trading without complying with certain traditional exchange requirements. A venue seeking to offer shares tokenized by an unaffiliated third party must first notify the underlying public company.A company that submits a written objection within 30 days prevents the venue from making that third-party tokenized version of its stock available under the exemption. The objection applies only to the specific venue. The public notices identify which companies have objected but do not provide their individual reasons. Former New York Gov. Andrew Cuomo, who serves on OKX’s board and co-chairs OKXICE, played down the objections during an October 20 press conference, characterizing the regulatory initiative as an experiment and suggesting companies could adopt tokenization at different stages.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>OKXICE plans round-the-clock tokenized U.S. stock trading</h2>OKXICE TSV is a 50-50 joint venture between Intercontinental Exchange, the parent of the New York Stock Exchange, and OKX’s U.S. holding company. The planned venue would allow approved users to trade tokenized U.S. stocks 24/7. The tokens would be backed by actual shares held through registered broker-dealers, while trades would run through permissioned Uniswap v4 pools on OKX’s XLayer blockchain and use stablecoins such as USDC. OKX and ICE first teamed up on tokenized securities earlier this year before announcing the venue this month.The SEC exemption caps the venue at 75 of the largest and most liquid stocks, with trading limited to 0.25% of each stock’s average daily volume, plus as many as 250 other stocks with a 2.5% limit. OKXICE has also said it can list shares tokenized by issuers themselves, giving those companies direct control over how their stock appears onchain. Nvidia, Tesla, Apple and Amazon are among heavily traded companies that had not objected, leaving room for the list to grow during the remaining objection windows.This article has been refined and enhanced by ChatGPT.

Blocky robot stamping red objection notices on tokenized stock certificates

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Walmart, Eli Lilly Join 38 Companies Opposing OKXICE Tokenized Stocks

<h2>NYSE parent plans regulated retail venue using HIP-3 infrastructure, subject to approvals</h2>TL;DR<ul><li>ICE and TradeXYZ plan to bring Hyperliquid-based perpetual futures into a regulated U.S. market.</li><li>ICE would operate the venue and clearing, while TradeXYZ designs markets using Hyperliquid’s HIP-3 infrastructure.</li><li>The proposal targets retail traders and remains subject to regulatory approvals.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange,<a href="https://ir.theice.com/press/news-details/2026/Intercontinental-Exchange-and-TradeXYZ-to-Bring-Hyperliquid-Based-Perpetual-Markets-Onshore/default.aspx">&nbsp;agreed</a> on October 29, 2026, to partner with TradeXYZ on a regulated U.S. marketplace for&nbsp;<a href="https://coin360.com/review/hyperliquid">Hyperliquid</a>-based&nbsp;<a href="https://coin360.com/glossary/perpetual-futures">perpetual futures</a>, subject to regulatory approvals. ICE would operate the markets and clearing infrastructure while TradeXYZ designs and implements the products using Hyperliquid’s HIP-3 technology. The&nbsp;<a href="https://coin360.com/coin/hyperliquid-hype">HYPE</a> price rose 15% on Thursday, according to&nbsp;<a href="https://coin360.com/review/coin360-dex">COIN360</a> data.ICE will serve as the exclusive operator of TradeXYZ’s regulated markets and is making an undisclosed minority strategic investment in the trading company. The proposed venue would offer perpetual contracts linked to cryptocurrencies, equities, indices, commodities and foreign exchange. Customers are expected to access the products through participating futures commission merchants, brokers and other platforms after completing identity verification and anti-money laundering requirements.Perpetual futures, commonly called perps, differ from conventional futures because the contracts do not expire. Traders can maintain leveraged exposure without fixed settlement dates, while funding mechanisms are used to help keep contract prices aligned with the underlying markets.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>ICE Targets a Growing Retail Trading Audience</h2>ICE Chairman and CEO Jeffrey C. Sprecher positioned the planned market as an expansion of ICE’s existing business rather than a substitute for its traditional futures operations.<blockquote>“We've seen a clear increase in retail participation in markets, and that participation is becoming far more global, with retail traders increasingly seeking short-duration exposure, often around the clock,” Sprecher said.</blockquote><blockquote>“We intend to find retail traders where they want to be, through the partners, brokers, and platforms they already use. We see these perp markets as additive to our futures markets, not a replacement for them.”</blockquote>ICE’s existing futures participation is more than 99% institutional. The company plans to keep the proposed retail operation separate from its established institutional clearing operations, limiting the retail platform’s trading and counterparty risks for commercial hedgers.TradeXYZ said the partnership could provide the infrastructure needed to extend its model into the American market.<blockquote>“ICE brings the regulatory, technological and market expertise to help us realize that ambition in America,” the company said.</blockquote>The agreement gives TradeXYZ a regulatory route into a market that had previously been unavailable to its American customers.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>TradeXYZ Brings Hyperliquid Trading Scale to the Deal</h2>TradeXYZ said its Hyperliquid markets have processed more than $650 billion in trading volume in just over a year. Those existing markets offer perpetual contracts tied to stocks, indices, commodities and currencies and will continue operating alongside the proposed U.S. platform.Hyperliquid’s HIP-3 markets have also attracted demand for around-the-clock trading of traditional assets, with open interest reaching $2.38 billion in April. TradeXYZ’s builder-deployed markets have accounted for a growing share of Hyperliquid activity involving contracts linked to stocks, indices and commodities.<div class="raw-html-embed"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Publication-timelevel</tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">HYPEall-timehigh<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">97.96 </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Figure</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Context</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">HYPE price</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Around&nbsp;91.21</td></tr><tr><td style="border: 1px solid #fff; padding: 8px; color: #fff;">Reached last month</td> </tr> </tbody> </table></div>The proposed structure assigns distinct roles to each participant. Hyperliquid provides the underlying technology through HIP-3, TradeXYZ designs and implements the markets, and ICE operates the regulated marketplace and clearing structure. ICE’s minority investment is not expected to materially affect its 2026 adjusted financial results.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>U.S. Launch Still Depends on Regulatory Approval</h2>The planned marketplace follows U.S. regulatory steps that opened a potential route for perpetual futures. The Commodity Futures Trading Commission issued a staff advisory and no-action relief in May, clearing a path for perps to enter the U.S. market.President Donald Trump referenced Hyperliquid in September while discussing the CFTC’s effort to bring the protocol into the U.S. in a “fully compliant and legal fashion.” Both ICE and TradeXYZ must still secure regulatory approvals before the proposed venue can begin operating.ICE’s <a href="https://coin360.com/news/okx-ice-tokenized-stocks-issuer-objections">existing joint venture</a> with&nbsp;<a href="https://coin360.com/review/okx">OKX</a> is another prospective distribution channel for the products. Its broker-dealer and futures commission merchant approvals remain pending. TradeXYZ also disclosed that billionaire investor Stan Druckenmiller is joining a small group of financial backers supporting the initiative.This article has been refined and enhanced by ChatGPT.

Blocky robot connecting Hyperliquid perpetual futures into NYSE exchange infrastructure

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ICE Partners With TradeXYZ for U.S. Hyperliquid Perpetual Futures

<h2>Russian handlers converted remote-work crypto wages into funds linked to Pyongyang</h2>TL;DR<ul><li>Treasury sanctioned a Russia-linked network tied to North Korean IT workers who allegedly infiltrated legitimate companies.</li><li>Chainalysis traced stablecoin salary payments through Ethereum wallets, consolidation addresses and Russian intermediaries.</li><li>The broader IT worker program is estimated to generate hundreds of millions of dollars annually for North Korea.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>The U.S. Treasury Department&nbsp;<a href="https://home.treasury.gov/news/press-releases/sb0669">sanctioned</a> 10 individuals and one entity on October 28, 2026, over North Korean government-run IT worker schemes that allegedly defrauded U.S. businesses and generated revenue for the country’s weapons programs.The action included two Russian nationals accused of facilitating approximately $5.5 million in cryptocurrency transactions for North Korean operations and targeted a network that converted earnings from fraudulent remote employment into funds North Korean officials could access.Treasury said North Korea uses fake documents, stolen identities and invented personas to place IT workers at legitimate companies, then takes most of their wages. The workers have also used artificial intelligence tools and “sophisticated cryptocurrency transactions” to support the operation.Treasury Secretary Scott Bessent said:<blockquote>“The North Korean regime continues targeting and exploiting American companies through fraudulent activities conducted by its overseas IT operatives, who weaponize sensitive data and extort businesses for substantial payments.”</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Treasury targets Russian intermediaries and North Korean managers</h2>Russian nationals Ilya Aleksandrovich Boykov and Vitold Viktorovich Obertas were among the sanctioned individuals. Treasury also targeted North Korean managers Kim Ki Hyok and Kim Hyo Dong, along with the First Financial and Technical Development Center and six workers associated with the North Korean-controlled organization. The sanctions freeze assets the designated people and entity hold in the United States and prohibit Americans from dealing with them.Treasury tied the targets to the following financial activity and&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> identifiers. The sanctions listings also showed one&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>&nbsp;<a href="https://coin360.com/glossary/wallet-address">address</a> appearing on both Boykov’s and Obertas’ entries.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Target</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported activity</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Crypto identifiers</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Ilya Aleksandrovich Boykov</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Equivalent of $3.5 million in crypto transactions since 2024 for Limited Liability Company Alis</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Two Ethereum and two&nbsp;Tron addresses</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Vitold Viktorovich Obertas</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Nearly $2 million in crypto conversions since January 2025, plus at least $1.25 million in other currency transactions</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">One Ethereum and three Tron addresses</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Kim Ki Hyok</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Nearly $500,000 in crypto transferred for his Russia-based delegation since 2024</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">An Ethereum address was linked to him</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Kim Hyo Dong</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Helped evade sanctions on more than $100,000 in transfers</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">—</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">First Financial and Technical Development Center</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Six Russia-based workers generated more than $750,000 since 2025</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">—</td> </tr> </tbody> </table></div>Kim Ki Hyok and Kim Hyo Dong report to Chinyong Information Technology Cooperation Company, which received a Treasury designation in 2023. The six workers sanctioned alongside the First Financial and Technical Development Center were Kim Kyong Ju, Ri Thae Chol, So Hyon Jin, Han Yu Song, Kim Sung Gwan and Hyon Se Il. The center is based in Vladivostok, Russia, and Treasury said it deploys highly trained IT workers who use AI tools and “complex cryptocurrency transfers” to generate revenue.Limited Liability Company Alis, which Boykov supported, had itself been sanctioned in 2024. Chainalysis also linked Obertas-connected wallets to Amnokgang Technology Development Company, a previously sanctioned organization that manages North Korean IT worker delegations. Those wallets deposited cryptocurrency into both mainstream and sanctioned exchanges, according to Chainalysis.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Chainalysis traces crypto salaries through Ethereum and Garantex</h2>Chainalysis traced one suspected North Korean developer who contributed code to blockchain projects and decentralized finance protocols while receiving&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoin</a> transfers approximately every two weeks between late 2022 and early 2023. The recurring transfers resembled salary payments. The developer’s&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> converted the&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> into Ethereum before sending the funds through consolidation addresses that Chainalysis linked to sanctioned entities.Chainalysis then traced the funds to Boykov, who forwarded cryptocurrency to Garantex, a sanctioned Russian exchange, for potential cash conversion. The blockchain analytics firm said the relationships stretched back several years. Chainalysis also estimated that Obertas had been active since at least 2023, while OFAC’s account placed the start of his handling of cryptocurrency for North Korean officials in 2025.North Korean operatives have used stolen identities, fraudulent documents and fabricated employment histories to obtain remote jobs, including positions at cryptocurrency companies. Chainalysis said some workers have used generative AI to produce resumes, realistic profile photos and deepfake videos for recruitment interviews. Treasury has also warned that the workers can use corporate access to deploy malware, steal proprietary information and extract sensitive data.The employment scheme extends beyond crypto companies. A United Nations Panel of Experts estimate cited by Chainalysis put annual revenue from North Korean IT worker operations at between $250 million and $600 million, with proceeds flowing into the country’s weapons and missile programs.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Sanctions follow wider action against North Korean IT workers</h2>The Treasury action followed a Justice Department operation earlier in October that shut down dozens of laptop farms in Texas and led to two arrests. Laptop farms host company-issued computers inside the United States so workers operating abroad can appear to employers as though they are logging in domestically.Treasury said the latest action builds on sanctions against another North Korean IT worker network imposed in March. Australia and the European Union also made designations targeting the network during October.Google’s Threat Intelligence Group had reported in April 2025 that North Korean IT workers had embedded themselves in cryptocurrency projects in the UK, Germany, Portugal and Serbia, including&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> smart-contract development. Some workers were operating under as many as 12 fake identities at the same time, according to Google.This article has been refined and enhanced by ChatGPT.

Blocky robot analyzing cryptocurrency transaction flows on multiple digital screens

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US Sanctions North Korean IT Worker Crypto Network

<h2>DTC-backed tokens can move around the clock across Canton and Besu</h2>TL;DR<ul><li>DTCC launched its tokenization service for eligible U.S. stocks, ETFs and Treasury securities on Canton Network and its private Besu blockchain.</li><li>Tokens represent securities already held at DTC, retain existing ownership rights and investor protections, and can move between registered wallets around the clock.</li><li>Twenty firms have signed agreements to access the service, while DTCC plans additional networks, digital-cash settlement and tokenized collateral support.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>The Depository Trust &amp; Clearing Corporation&nbsp;<a href="https://www.businesswire.com/news/home/20261027462327/en/DTCC-Tokenization-Service-Goes-Live-Marking-Major-Milestone-in-the-Adoption-of-Digital-Assets">launched</a> its tokenization service on October 28, 2026, allowing eligible clients to convert securities held at its Depository Trust Company subsidiary into blockchain-based tokens. Twenty participants have signed agreements to access the service, which is live on Canton Network and DTCC’s private Besu blockchain and preserves the ownership rights attached to the underlying securities.The DTCC Tokenization Service, or DTS, converts securities between traditional and tokenized forms. The tokens are backed one-for-one by securities held at DTC and can be transferred between registered digital wallets around the clock.Official ownership records remain with DTC, distinguishing the structure from synthetic stock tokens that track a share price without granting ownership of the underlying security. DTCC said its approach provides a “practical path” for tokenized securities adoption.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>DTCC Starts With Stocks, ETFs and U.S. Treasuries</h2>Initial support covers select large-cap stocks from the Russell 1000 index, exchange-traded funds and U.S. Treasury bills, notes and bonds. The launch sits within DTC’s existing custody infrastructure, rather than creating a separate pool of securities outside its traditional system.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Launch metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Figure</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Eligible securities at launch</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">34</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Approximate market value represented</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">$30 trillion</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Securities held at DTC</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">More than $114 trillion</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Target tokenization processing time</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">15 minutes or less</td> </tr> </tbody> </table></div>Eligible firms can convert securities into tokens during business hours. After conversion, those assets can move between registered blockchain wallets around the clock, subject to compliance restrictions. The service retains the same ownership rights and investor protections as the securities’ traditional forms.Signed participants named across the launch materials include Bank of America, Barclays, Citi, Fidelity Investments, JPMorgan, Morgan Stanley, Citadel Securities, State Street, UBS, Alpaca, Clear Street, DriveWealth and Interchange Clearing. DTCC said additional firms are expected to join over time.Frank La Salla, DTCC’s president and CEO, said the launch marked “the culmination of years of work” to place tokenized securities within a regulated framework supported by established market infrastructure.<blockquote>“By extending DTC's resiliency, governance and operational standards into digital markets, we are establishing the foundation for responsible institutional adoption at scale,” La Salla said.</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Launch Follows SEC No-Action Letter and Pilot</h2>The rollout followed regulatory and testing steps stretching back to December 2025, when the U.S. Securities and Exchange Commission issued a no-action letter stating that it would not recommend enforcement action against DTC in connection with the proposed tokenization program. The authorization covered a defined set of securities.DTCC said in May that it planned a full service launch in October 2026 after a July 2026 pilot. The current rollout follows that earlier demonstration and puts the previously announced tokenization framework into operation.DTCC’s road map calls for broader blockchain support in 2027. Stellar and Arc are planned additions alongside wider corporate-action capabilities. DTCC also plans tools that would allow transactions to settle using digital cash and enable tokenized securities to be used as collateral.Tokenization is intended to make financial assets easier to transfer, settle and deploy as collateral while connecting blockchain-based securities with existing market infrastructure. Citi analysts projected that the tokenized securities market&nbsp;<a href="https://coin360.com/news/citi-tokenized-securities-market-2030">could reach $5.5 trillion</a> by 2030 as institutional adoption expands.Other U.S. market operators are also developing blockchain-based securities infrastructure. Nasdaq and the New York Stock Exchange are working on tokenized securities trading systems, while NYSE parent Intercontinental Exchange is set to operate a&nbsp;<a href="https://coin360.com/news/ice-okx-tokenized-equities-venture">blockchain-based trading venue</a> with OKX under the&nbsp;<a href="https://coin360.com/news/sec-cftc-tokenized-stocks-developer-relief">SEC’s innovation exemption</a>.This article has been refined and enhanced by ChatGPT.

DTCC launched its tokenization service for eligible U.S. stocks, ETFs and Treasury securities 

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DTCC Launches Tokenization Service for $30 Trillion in U.S. Securities

<h2>Customer information was exposed across distinct incidents affecting exchanges and Korean financial firms</h2>TL;DR<ul><li>Coinbase said its own systems were not hacked and traced customer-data exposure to third-party analytics provider Amplitude.</li><li>Bithumb said an outsider breached an internal employee system, while its trading platform and customer virtual assets remained separate.</li><li>South Korean regulators were also assessing cybersecurity incidents involving Daishin Securities and Mirae Asset Global Investments.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr><a href="https://coin360.com/review/coinbase">Coinbase</a> denied reports that it had been hacked, saying customer funds remain safe and the customer-data exposure originated at Amplitude, a third-party analytics provider. Separately, Bithumb said an outsider broke into the internal mobile system used by employees for work and messaging and took personal information. Bithumb said the employee system operates separately from its trading platform, and no crypto funds had been reported lost as of Asian afternoon hours.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Coinbase Traces Data Exposure to Amplitude</h2>Nasdaq-listed Coinbase&nbsp;<a href="https://x.com/CoinbaseSupport/status/2115274731310002356">said</a> the exposed information represented only a “small subset” of customer contact data and was compromised alongside information belonging to other Amplitude clients, according to Coinbase Support’s X account.&nbsp;Coinbase said it was notifying affected customers by email as required by law and stressed that its systems had detected no unauthorized access. Customer funds, passwords and&nbsp;<a href="https://coin360.com/glossary/private-key">private keys</a> were not compromised. Exposed email addresses or phone numbers can still be used in phishing or social-engineering attempts.<figure class="image"><img alt="tweet-2115274731310002356.webp" src="https://cdn.coin360.com/tweet_2115274731310002356_3471d0eb79.webp"></figure>Coinbase had not specified how many customers were affected or exactly which contact-data fields were involved. The incident therefore centered on a third-party service used by the exchange rather than unauthorized access to Coinbase’s own infrastructure. That distinction separates the customer-data exposure from a direct compromise of the exchange’s systems, even though affected customers could still face attempts to misuse their contact information.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Bithumb Says Trading Platform Was Isolated From Breach</h2>Bithumb, South Korea’s second-largest crypto exchange by trading volume, discovered its intrusion on Tuesday and reported it to the Korea Internet &amp; Security Agency and the Personal Information Protection Commission. Bithumb told&nbsp;<a href="https://en.yna.co.kr/view/AEN20261028002751320">Yonhap</a> it was analyzing the exact scope, “including the possibility of member information being involved.”The exchange said the compromised employee system was isolated from its trading infrastructure, adding that “customer virtual assets cannot be accessed through this breach.” It had not said whether deposits or withdrawals were affected or how many people’s data was exposed.The incident came as South Korean authorities examined cyberattacks affecting multiple financial companies. The Financial Supervisory Service said Bithumb was among three firms being assessed on Wednesday. The cases involved different systems and reported outcomes.<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Firm</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported incident</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported impact</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Bithumb</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Outside intrusion into an internal employee mobile system</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Personal information was taken; trading infrastructure was separate</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Daishin Securities</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Unauthorized outside access</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Personal and credit information for 38,490 customers leaked, including names, email addresses and mobile phone numbers</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Mirae Asset Global Investments</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Abnormal access to some web systems was blocked</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">The firm said investor information was not affected; financial authorities began an inspection</td> </tr> </tbody> </table></div>Financial Supervisory Service Governor Lee Chan-jin told a meeting with bank holding company chairs, “I understand that major financial investment companies experienced overall hacking incidents yesterday.” Earlier in the month, Lee said cyberattacks had affected 16 South Korean financial firms as of Oct. 14.Bithumb’s latest incident followed an earlier internal-control failure in February. The exchange mistakenly credited customers with 620,000&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a>, worth more than $40 billion at the time, instead of 620,000 won. CEO Lee Jae-won blamed weak internal controls and said Bithumb was “acutely aware of the deficiency in internal system control.”This article has been refined and enhanced by ChatGPT.

Robot guards Coinbase funds from third party data security leak

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Coinbase Denies Hack as Bithumb Confirms Separate Employee-System Breach

<h2>Nearly Half of Original Issuers Have Now Opted Out of Planned Trading Venue</h2>TL;DR<ul><li>JPMorgan Chase, Coca-Cola, Dell and four other companies joined objections to the planned OKX-ICE tokenized stock venue.</li><li>Disclosed objections have risen to 33, while 30 companies from the original roster have opted out.</li><li>The planned venue would offer tokenized U.S. stock trading under the SEC’s five-year Innovation Exemption.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>JPMorgan Chase, Coca-Cola, Dell Technologies, Advanced Micro Devices, Adobe, Applied Materials and Sandisk have objected to having their shares traded on OKXICE TSV, bringing the disclosed number of objecting issuers to 33. The companies appeared in an<a href="https://www.okx.com/cdn/assets/okfe/web3-activities/okxicetsv/notices/OKXICE_Tokenized_Securities_Venue_Public_Notice_26.10.27.pdf">&nbsp;updated public notice</a> dated Oct. 27 for the planned<a href="https://coin360.com/news/okx-ice-tokenized-stock-trading-sec">&nbsp;tokenized stock venue</a> backed by crypto exchange&nbsp;<a href="https://coin360.com/review/okx">OKX</a> and NYSE parent Intercontinental Exchange.Thirty companies from OKXICE’s original roster have now objected, equal to about 48% of that group. Wells Fargo, Arm and Cerebras are among other objectors that were outside the initial selection. JPMorgan is also the third major bank to object after Goldman Sachs and Wells Fargo. Earlier objections have included Microsoft, Alphabet, Intel and Oracle.The objections have accumulated quickly since the first batch was disclosed. The progression before the latest notice was:<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Date</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Objecting issuers</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Oct. 15</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">9</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Oct. 19</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">16</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Oct. 23</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">22</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Oct. 26</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">26</td> </tr> </tbody> </table></div><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>JPMorgan Says It Remains Interested in Tokenization</h2>JPMorgan’s objection does not amount to a rejection of tokenization more broadly. A JPMorgan Chase spokesperson said that the bank remains interested in the technology despite choosing not to participate in the OKXICE venue.<blockquote>“We are encouraged by the potential of tokenization but also need to be thoughtful about how our shares are represented and traded,” the spokesperson said. “We’ve decided not to participate in this venue at this stage but will continue to evaluate opportunities as the market develops.”</blockquote>OKXICE’s original Oct. 4 notice proposed 63 tokenized stocks covering 62 companies. Nvidia, Tesla, Apple and Amazon were among major companies that had not objected as of the latest notice. Nasdaq, which received SEC approval for its own tokenized securities pilot, has said it will opt its shares out of the exemption.The SEC’s Innovation Exemption requires a venue to notify an issuer before offering shares tokenized by an unaffiliated third party. A company can block that venue from making the tokenized stock available by submitting a written objection within 30 days. The objection applies only to the venue receiving it rather than preventing other platforms from offering similar products. The exemption was unveiled in September after the Clarity Act stalled in the Senate.OKXICE co-chairman Andrew Cuomo previously said many issuers were expected to watch how the market develops before deciding whether to participate. He characterized the SEC experiment as “a sandbox—a model demonstration.”<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>How the OKX-ICE Tokenized Stock Venue Would Work</h2><a href="https://coin360.com/news/ice-okx-tokenized-equities-venture">OKXICE TSV</a> is structured as a 50-50 joint venture between Intercontinental Exchange and OKX’s U.S. holding company. Approved users would be able to trade tokenized U.S. stocks 24/7 through permissioned&nbsp;<a href="https://coin360.com/coin/uniswap-uni">Uniswap</a> v4 liquidity pools running on OKX’s XLayer&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a>, with trades paired against&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> such as&nbsp;<a href="https://coin360.com/coin/usd-coin-usdc">USDC</a>. OKX and ICE first<a href="https://coin360.com/news/okx-funding-circle-ripple-25b-valuation">&nbsp;teamed up</a> on tokenized securities earlier this year before announcing the venue this month.Access would require users to complete identity and sanctions checks and hold a nontransferable “soulbound” token. Trades would have to be fully funded, with no margin or borrowing. Liquidity providers would not have to register as market makers and could withdraw liquidity at any time.Each token would represent a claim on a real share held through a registered broker-dealer by a third-party tokenizer. A public notice identified a potential investor-protection issue if that broker-dealer failed: it remains uncertain whether tokenized shares held in a self-custodied&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> would qualify as customer property or receive Securities Investor Protection Corporation coverage.This article has been refined and enhanced by ChatGPT.

robot joined objections to the planned OKX-ICE tokenized stock venue

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JPMorgan, Coca-Cola Join Growing Pushback Against OKX-ICE Tokenized Stocks

<h2>Alphabet Uses Service on Ethereum and Solana Ahead of Commercial Rollout</h2>TL;DR<ul><li>Google Multi-Party Compute is in private preview, with major financial institutions testing the crypto custody security service.</li><li>Alphabet is already using the technology to secure digital assets on Ethereum and Solana.</li><li>The rollout comes as private-key theft remains a major security problem.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Google is&nbsp;<a href="https://www.coindesk.com/tech/2026/10/28/google-to-preview-crypto-custody-security-system-as-ai-threats-grow">preparing</a> to showcase Google Multi-Party Compute, a security service designed to help banks and other financial institutions safeguard and transfer cryptocurrencies and tokenized assets. The product remains in private preview, with several design partners and major financial institutions testing it, while parent company Alphabet has begun using the technology for its own digital assets on&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> and&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a>. Commercial availability is planned for early 2027.The company plans to present the system at its inaugural digital assets symposium in New York City. Google has not identified the institutions testing the product, the specific digital assets Alphabet is securing or the pricing planned for the commercial service. The offering marks Google’s first dedicated MPC custody product for cryptocurrencies, building on Google Cloud Key Management Service and Cloud HSM, which already help institutions manage cryptographic keys. Google previously published guidance in 2023 on building MPC-based digital-asset systems with its Confidential Space infrastructure.<blockquote>“Digital asset adoption and tokenization are at an inflection point. As regulated financial institutions begin adopting blockchains and tokenization, they need scalable, proven infrastructure to secure their clients’ assets,” said Rich Widmann, director of digital assets strategy at Google Cloud.</blockquote><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>How Google MPC Splits Control of Crypto Keys</h2>Multi-party computation, or MPC, avoids keeping a complete&nbsp;<a href="https://coin360.com/glossary/private-key">private key</a> in one location. Instead, cryptographic information needed to authorize a transaction is divided among separate participants or computing environments. The pieces work together when a transaction is signed, reducing dependence on any single machine or holder of a full private key.Google said customers retain control of their key material and that the company cannot access it in unencrypted form, including when key shares are stored on Google infrastructure. The system combines MPC-based signing with transaction policies and key recovery rather than requiring institutions to assemble those functions independently.A bank could, for example, distribute signing credentials across Google Cloud, its own hardware and another cloud provider. When a transaction is initiated, Google’s Confidential Space can run a policy engine before signing begins. Institutional rules could impose transfer limits, restrict destination wallets or require approval from several departments. Confidential Space uses hardware-isolated computing environments intended to protect sensitive information from unauthorized access.Google said institutions can also select different signing thresholds. A transaction might require two of three participating signers or five of seven to jointly produce a valid signature. Credentials can be spread across an institution’s own systems, Google Cloud and competing cloud infrastructure, limiting reliance on a single provider for control of the assets. Google also said the service supports fast transaction signing and key recovery.That architecture does not remove every custody risk. Transaction security still depends on how an institution configures its system, protects participants and controls access to approval policies. Legitimate users can also still be deceived into approving malicious transfers, even when the underlying signing credentials have not been directly compromised.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Private-Key Compromises Drive Billions in Crypto Losses</h2>Private-key theft remains a significant source of cryptocurrency losses. An attacker who obtains the credentials controlling a&nbsp;<a href="https://coin360.com/glossary/crypto-wallets">wallet</a> may be able to move its assets without the owner’s authorization, making key management central to institutional crypto custody.The available figures show the scale of that exposure:<div class="raw-html-embed"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Metric or incident</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Period</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Reported figure</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Cryptocurrency stolen through compromised&nbsp;private keys</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">2024</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">43.8% of stolen cryptocurrency, according to Chainalysis</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Cumulative&nbsp;blockchain hacks and exploits</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">As of June 2026</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">$16.69 billion, with roughly 40% attributed to private-key compromises, according to DeFiLlama</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Resolv attack</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">March 2026</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">About $25 million extracted after a compromised private key and weaknesses in its minting system</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Humanity Protocol breach</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">June 2026</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">More than $32 million drained from at least 17 wallets; the project’s token fell more than 80%</td> </tr> </tbody> </table></div>Chainalysis and DeFiLlama data place private-key compromises among the major drivers of crypto theft, while the Resolv and Humanity Protocol incidents show how compromised credentials can affect both directly held assets and wider project operations.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Google Positions MPC Against AI and Future Quantum Risks</h2>Google is also presenting the service against a wider cybersecurity backdrop that includes artificial intelligence and, over the longer term,&nbsp;<a href="https://coin360.com/glossary/quantum-computing">quantum computing</a>. The current MPC system is focused on existing threats such as compromised credentials and unauthorized transactions rather than an AI system breaking the cryptographic signatures protecting major blockchains.Chainalysis found that cryptocurrency scams linked to AI-tool vendors extracted an average of $3.2 million per operation in 2025, compared with $719,000 for scams without such links, or roughly 4.5 times as much. The findings suggested AI could be helping fraudsters operate at greater scale but did not establish that AI directly caused the higher proceeds.Ethereum researcher Justin Drake has warned that advances in AI could eventually uncover mathematical shortcuts affecting the signatures protecting&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> and Ethereum wallets, with a worst-case breakthrough potentially emerging within months rather than years. No AI system has demonstrated the ability to break those signatures.Quantum computing presents a different, longer-term issue. Google researchers have estimated that a sufficiently powerful future quantum computer could theoretically derive a bitcoin private key from an exposed&nbsp;<a href="https://coin360.com/glossary/public-key">public key</a> in roughly 9 minutes with advanced preparation. About 6.9 million bitcoin have been reported as potentially vulnerable to future quantum attacks because their public keys have already been exposed, although no existing quantum computer can perform such an attack.Google said the MPC architecture is designed to support future post-quantum cryptography upgrades as blockchain networks adopt the required technology. At general availability, the service is designed to support conventional ECDSA and Ed25519 signing algorithms. Google said future cryptographic upgrades could be added without requiring institutions to redesign their systems or interrupt operations.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Google Moves Toward a Crowded Institutional Custody Market</h2>Google’s planned service would put one of the world’s largest cloud providers closer to specialist crypto security companies including Fireblocks, Fordefi and BitGo, which already provide technology for protecting and authorizing blockchain transactions.Google argues that its existing banking relationships and security infrastructure can give it an advantage while allowing financial institutions to operate their own custody businesses. The company is positioning itself as an infrastructure provider rather than requiring institutions to hand complete control of signing credentials to one technology vendor.That model still leaves institutions dependent on Google for parts of the software, transaction policies and operational infrastructure. Security will therefore depend on how customers distribute credentials, configure signing participants and control changes to transaction-approval policies as the service moves from private testing toward commercial deployment.This article has been refined and enhanced by ChatGPT.

A Google-branded MPC robot manages cryptographic security within a financial vault as bank professionals monitor transactions

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Google Tests MPC Crypto Custody System as Key Security Risks Mount

<h2>Prediction Markets Stay Ahead as Robinhood Posts Record Quarterly Revenue</h2>TL;DR<ul><li>Robinhood’s crypto revenue rose 20% quarter over quarter to $120 million, including $26 million from Robinhood Chain.</li><li>Crypto revenue remained 55% below the year-earlier level, even as trading volume increased from the second quarter.</li><li>Prediction markets generated $173 million, while Robinhood’s total quarterly revenue reached a record $1.42 billion.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>Robinhood’s crypto revenue rose 20% from the previous quarter to $120 million in the third quarter of 2026, helped by a $26 million contribution from Robinhood Chain during its first quarter on&nbsp;<a href="https://coin360.com/glossary/mainnet">mainnet</a>. The sequential rebound masked continued year-over-year weakness, with total crypto revenue still down 55%, while prediction markets generated more revenue than crypto.Robinhood&nbsp;<a href="https://investors.robinhood.com/static-files/097e3ef5-f1a9-4981-b224-c58d9da67159">reported</a> the results on Oct. 27 as total net revenue increased 12% year over year to a record $1.42 billion. Transaction-based revenue rose 19% to $867 million, while net income declined 14% to $476 million.<div class="raw-html-embed"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Up12%yearoveryear</tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Transaction-basedrevenue<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">867 million </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Up20%quarteroverquarter;down55%yearoveryear</tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">Predictionmarketsrevenue<tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;">173 million </tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"></tdstyle="border:1pxsolid#fff;padding:8px;color:#fff;"><table style="border-collapse: collapse; width: 100%;"> <thead> <tr> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Metric</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Q3 2026</th> <th style="border: 1px solid #fff; padding: 8px; text-align: left; color: #fff;">Change / Comparison</th> </tr> </thead> <tbody> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Total net revenue</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">1.42billion</td></tr><tr><td style="border: 1px solid #fff; padding: 8px; color: #fff;">Up 19%</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Crypto revenue</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">120million</td></tr><tr><td style="border: 1px solid #fff; padding: 8px; color: #fff;">Up 11% quarter over quarter; more than 6x year over year</td> </tr> <tr> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Net income</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">$476 million</td> <td style="border: 1px solid #fff; padding: 8px; color: #fff;">Down 14% year over year</td> </tr> </tbody> </table></div><div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Robinhood Chain Drives the Sequential Crypto Rebound</h2>Robinhood Chain accounted for $26 million of third-quarter crypto revenue after going live on July 1. Excluding the layer-2 network, crypto transaction revenue fell 6% from the second quarter to $94 million. Crypto revenue had totaled $100 million in the previous quarter and $268 million in the third quarter of 2025.Crypto trading activity nevertheless increased sequentially. Quarterly volume rose 23% to $49.8 billion, including $20.6 billion through the Robinhood app and $29.2 billion through&nbsp;<a href="https://coin360.com/exchange/bitstamp">Bitstamp</a>. Other figures in Robinhood’s earnings coverage rounded those amounts to $50 billion, $21 billion and $29 billion, respectively. On a year-over-year basis, total crypto volume was down 38%, with Robinhood app volume and Bitstamp volume down 48% and 28%, respectively.Robinhood Chain, a layer-2&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> built on&nbsp;<a href="https://coin360.com/coin/arbitrum-arb">Arbitrum</a>, processed more than $80 billion in&nbsp;<a href="https://coin360.com/glossary/Decentralized-Crypto-Exchange-dex">decentralized exchange</a> volume and generated more than $50 million in fees during the quarter. Its recognized contribution to Robinhood’s crypto revenue was smaller than those network fees. By the end of August, the network had generated about $3.13 million in fees over a 30-day period, compared with $2.47 million for&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> and $2.89 million for Base over the same period.The network’s early activity was driven by meme coins rather than the tokenized stocks it was designed to support. Robinhood Chain later surpassed $100 billion in cumulative trading volume roughly three and a half months after its mainnet launch.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Prediction Markets Generate More Revenue Than Crypto</h2>Prediction markets remained a larger revenue source than crypto during the quarter. Event contracts generated $173 million, up from $156 million in the second quarter, when the business first moved ahead of crypto revenue.Customers traded a record 16.4 billion event contracts during the quarter, more than seven times the year-earlier total. The products cover outcomes including sports, elections and economic data, paying $1 when a contract’s specified outcome occurs.Rothera, Robinhood’s derivatives exchange investment alongside Susquehanna International Group, contributed $28 million to event-contract revenue. Robinhood said Rothera exceeded $100 million in annualized revenue during its first full quarter and had processed more than 6.4 billion contracts since launch.Robinhood has also taken minority stakes in&nbsp;<a href="https://coin360.com/exchange/crypto_com">Crypto.com</a> and prediction-market spinoff OG.com. CEO Vlad Tenev had said in December, “I believe we’re at the very beginning of a prediction market supercycle,” as the company expanded its offering with NFL player contracts and parlay-style products.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Earnings Miss Expectations Despite Record Revenue</h2>Robinhood’s record revenue did not translate into an earnings beat. Diluted earnings came to $0.51 per share, down from $0.61 a year earlier. Attached earnings coverage cited analyst expectations of $0.55 per share, while another estimate put the consensus at about $0.56. Revenue of $1.42 billion was also slightly below an expectation of roughly $1.43 billion.Net income of $476 million compared with $556 million a year earlier and $573 million in the second quarter, declines of 14% and 17%, respectively. Results included a $67 million unrealized loss on Robinhood Ventures Fund I, which reduced earnings by $0.07 per share. Adjusted earnings per share were $0.60, down 3% from a year earlier.Other transaction businesses posted stronger growth.&nbsp;<a href="https://coin360.com/glossary/options-contracts">Options</a> generated $399 million in revenue, up 31%, while equities revenue increased 41% to $121 million.Robinhood ended the quarter with 28.7 million funded customers, a 7% year-over-year increase. Total platform assets rose 19% to $396 billion, while Robinhood Gold subscriptions reached a record 5.2 million.The company narrowed its 2026 outlook for adjusted operating expenses and stock-based compensation to between $2.675 billion and $2.75 billion. The previous range set in July was $2.675 billion to $2.775 billion.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Robinhood Expands Its Crypto Business Beyond Trading</h2>Robinhood also expanded its international and blockchain operations during the quarter. The company launched crypto trading in the United Kingdom and received authorization from the Dubai Financial Services Authority to offer trading and custody services, with products expected to begin rolling out in Dubai in 2027.A separate agreement with&nbsp;<a href="https://coin360.com/coin/xrp-xrp">Ripple</a> will bring the&nbsp;<a href="https://coin360.com/coin/ripple-usd-rlusd">RLUSD</a>&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoin</a> to Robinhood’s retail trading ecosystem, Robinhood Chain and Bitstamp, with an in-app rollout planned later this year. RLUSD had a market value above $2.5 billion. The agreement also covers institutional settlement using the&nbsp;<a href="https://coin360.com/coin/xrp-xrp">XRP</a> Ledger, Ripple treasury-management technology and lending services for Bitstamp traders.Robinhood crypto chief Johann Kerbrat also confirmed a $25 million bitcoin&nbsp;<a href="https://coin360.com/glossary/allocation">allocation</a> to the company’s corporate holdings earlier in the month, describing the purchase as a diversification measure.Robinhood shares fell after the earnings release. One after-hours snapshot showed HOOD down 5.5% to $89.22, leaving the stock roughly 22% lower for the year at that point.This article has been refined and enhanced by ChatGPT.

Robinhood robot integrates chain revenue into record quarterly earnings dashboard

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Robinhood Crypto Revenue Rises 20% as Chain Adds $26 Million

<h2>MOU Centers on JPYSC Settlement, Infrastructure, Distribution and Regulation</h2>TL;DR<ul><li>BlackRock, SBI Holdings and Startale Group signed an exploratory agreement around tokenized money market funds and the JPYSC yen stablecoin.</li><li>The partners will assess technical infrastructure, business and distribution opportunities, and regulatory requirements.</li><li>No live product, participating fund, blockchain or commercial launch date has been confirmed.</li></ul><hr>Trade smarter on Jupiter, Solana’s leading DEX built for fast execution and deep liquidity.&nbsp;Swap tokens at competitive rates, route across multiple liquidity sources automatically, and access perpetuals, DCA, and advanced trading tools — all in one place!<div class="raw-html-embed"><div style="box-sizing: inherit; -webkit-tap-highlight-color: white; display: flex; align-items: center; justify-content: center;"><a href="https://jup.ag/?ref=g33ohytogabt" ref="noopener nofollow noreferrer" style="box-sizing: inherit; color: white; text-decoration: none; cursor: pointer; background-color: #4CAF50; padding: 5px 30px; text-align: center; font-size: 16px; margin: 5px 2px; border-radius: 5px;">Trade on Jupiter!</a></div></div><hr>BlackRock, the $15.5 trillion asset manager, signed a memorandum of understanding with SBI Holdings and Startale Group on October 27, 2026, to explore connecting tokenized money market funds with JPYSC, a regulated yen-denominated&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoin</a>.&nbsp;The&nbsp;<a href="https://www.sbigroup.co.jp/english/news/pdf/2026/1027_a_en.pdf">agreement</a> involves BlackRock Financial Management, BlackRock Japan, SBI Holdings and Startale. It remains exploratory, with no live product, participating fund, selected&nbsp;<a href="https://coin360.com/glossary/blockchain">blockchain</a> or commercial launch date announced.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Partners Examine Tokenized Fund Settlement With JPYSC</h2>The partnership brings together BlackRock's asset-management capabilities, SBI's financial services network and distribution channels, and Startale's blockchain development work. The companies plan to examine three areas: technological infrastructure, business and distribution opportunities, and regulatory requirements for connecting tokenized money market funds with JPYSC. They also plan to engage financial institutions and other businesses about broader cooperation, with the stated goal of supporting onchain finance in Japan and other markets.Money market funds primarily invest in short-term financial instruments, while tokenization represents ownership interests through blockchain-based records. Connecting tokenized fund shares with a yen stablecoin could make it easier for eligible institutions to move between digital investments and digital cash without relying entirely on conventional settlement processes. The arrangement would also examine how yen-based payments could interact with tokenized financial assets.SBI Chairman Yoshitaka Kitao said Japan should “prepare early and build the foundations for the next generation of financial markets” as finance moves onchain. Startale CEO Sota Watanabe called connecting JPYSC with tokenized money market funds “an important step toward building the foundations of onchain finance.”<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>JPYSC Provides the Yen-Denominated Settlement Layer</h2>JPYSC is a yen-denominated trust-type stablecoin issued through SBI Shinsei Trust Bank under Japan's regulated trust-based stablecoin framework and distributed by SBI VC Trade. Developed with Startale, JPYSC is intended to support payments, settlements and transactions involving tokenized financial assets.SBI has separately expanded its digital-finance activity through an&nbsp;<a href="https://coin360.com/coin/ondo-ondo">Ondo</a> Finance partnership focused on tokenized Japanese equities. On October 16, SBI and Startale also announced plans to explore&nbsp;<a href="https://coin360.com/glossary/interoperability">interoperability</a> between JPYSC and Open USD, a dollar-denominated stablecoin initiative. That effort is separate from the BlackRock agreement, although both involve connecting components of institutional digital finance.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>BlackRock Brings Existing Tokenization Work</h2>BlackRock already operates BUIDL, its tokenized liquidity fund, which has expanded to&nbsp;<a href="https://coin360.com/coin/avalanche-avax">Avalanche</a> and other blockchain networks. Its institutional tokenization work has also included stablecoin-related changes intended to accommodate digital-asset businesses, as well as BUIDL integrations showing how tokenized fund shares can interact with digital payment assets. The new agreement does not establish that BUIDL will be integrated with JPYSC.BlackRock has separately supported tokenized portfolio products developed with Ondo Finance. SBI contributes knowledge of Japan's financial regulations and distribution infrastructure, while Startale brings blockchain-development capabilities that include infrastructure for tokenized securities. The agreement comes as financial institutions examine whether blockchain-based systems can reduce settlement friction while maintaining existing investor protections.This article has been refined and enhanced by ChatGPT.

BlackRock robot explores JPYSC link with SBI Holdings in Japan

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BlackRock, SBI and Startale Explore Yen Stablecoin Link for Tokenized Funds

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