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Trezor Urges CryptoBilis Buyers to Move Funds After Suspected Chip Implant

Trezor is warning customers who purchased hardware wallets from former authorized reseller CryptoBilis since March to move funds off affected devices after a report of a suspected hardware implant in a Trezor Safe 5. The alert follows renewed attention on wallet tampering incidents that can expose recovery phrases—even when firmware appears unchanged. In a post on Friday, Trezor said a customer in Indonesia reported an unauthorized circuit board inside a Trezor Safe 5 bought on Tokopedia in August. According to the customer’s account, the suspected implant could capture information shown on the device’s screen, including wallet recovery phrases, and transmit that data over a cellular network. Key takeaways Trezor is advising customers who bought from CryptoBilis since March to transfer funds immediately after a suspected Safe 5 implant report. The suspected mechanism reportedly targets what appears on the device screen, including recovery phrases, rather than altering firmware. T...
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Binance Hack Wallets Hold 18,270 BTC, Surpassing Coinbase Treasury

New on-chain analysis is sharpening the picture of who benefited from Binance’s reported $6.3 billion hack—and how much of the stolen crypto remains under attacker control. According to blockchain analytics firm Bitquery, the perpetrators held about 18,270 Bitcoin across 19 addresses as of Friday, valuing the balance at roughly $1.4 billion . The findings arrive alongside details from Coinbase’s latest public filings and Binance’s ongoing response efforts. Bitquery’s traced Bitcoin holdings also exceed the amount Coinbase discloses holding for investment and operations—though not the portion Coinbase holds on behalf of customers. Key takeaways Bitquery traced 18,270 BTC (about $1.4B) linked to the Binance hacker across 19 addresses as of Friday. That total is 199 BTC higher than the combined 18,071 BTC Coinbase reported holding for investment and operations as of Sept. 30 (excluding customer balances). Binance said roughly $3B in stolen assets were frozen and pledged to co...
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EIP-7702 Not Behind Binance Hack, but Could Have Worsened Losses

Blockchain security firm Blockaid believes the scale of Binance’s $6.3 billion hack may have been enabled by a compromise of the exchange’s wallet signing setup—rather than a straightforward private-key leak. In an interview with Cointelegraph, Blockaid co-founder and CEO Ido Ben-Natan also said Ethereum’s EIP-7702 upgrade could have made the theft easier by allowing attackers to execute “sweeping” transaction patterns more efficiently. Binance has confirmed the incident and pledged to cover users’ losses. The exchange said it later found additional breach points after initially suspecting a compromised laptop belonging to one of its engineers. Against that backdrop, Blockaid’s assessment raises a broader question for the industry: if signing systems can be reached through operational compromise, upgrades that change transaction behavior may become new attack surface—unless delegations and permissions are carefully revoked and monitored. Key takeaways Blockaid suggests Binance’s atta...
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Zcash Grants Group Pledges $124M to Settle Compromise Amid Backlash

Zcash Community Grants (ZCG) has put forward a proposal to shift a significant portion of its Zcash treasury away from its existing grants framework and toward the Network Sustainability Mechanism (NSM), a reserve intended to fund future block rewards. The move—discussed on the Zcash community forum this week—would substantially change how ZCG’s holdings are used over the next several years, but it has already drawn sharp criticism from prominent industry figures who argue the plan lacks transparency and holder accountability. In the proposal, ZCG would transfer 36,200 ZEC from a treasury of roughly 91,500 ZEC into the NSM. If enacted, the committee would still retain about 55,200 ZEC (valued at roughly $70 million at the time of writing), while reducing future allocations and extending a lower-funding schedule. ZCG described the document as preliminary and said a full proposal would follow for broader community consideration. Key takeaways ZCG’s preliminary plan would move 36,200 ZE...
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Binance Hack of $6.3B: Record Loss Highlights Exchange Risk

Binance has pegged the estimated impact of its reported security breach at around $6.3 billion , while saying $3 billion in crypto has been verified as frozen. As investigators trace how the attack unfolded, the exchange says it has begun coordinating recovery efforts with law enforcement and is preparing a refreshed proof-of-reserves update. The latest updates in Cointelegraph’s live coverage center on how Binance plans to restore normal operations, what was frozen, and why analysts believe the hack likely involved compromised systems rather than a simple “one-click” incident. Several DeFi protocols and stablecoin issuers have also taken precautionary measures or issued statements tied to the frozen assets. Key takeaways Binance estimates the breach at ~$6.3B , with $3B verified frozen ; the total could rise as tracing continues. Withdrawals are being targeted for resumption within a tight window, alongside a commitment to publish a full proof-of-reserves report by Monday. Bin...
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Binance $6.3B Hack: Timeline Recap of How the Breach Unfolded

Binance says it has reserved more than $6.34 billion in company funds to cover losses after hackers stole roughly $6.3 billion from the exchange on Thursday, in what TRM Labs has described as the largest cryptocurrency theft on record. Industry partners have frozen about $3 billion in assets believed to be tied to the incident, but customers are still waiting for the exchange to reopen withdrawals. The exchange’s investigation remains ongoing, and Binance has not publicly confirmed who carried out the attack. Still, blockchain forensics from TRM Labs linked the first unauthorized transfers to North Korea’s TraderTraitor group, which the US FBI previously associated with a $1.5 billion Bybit theft in February 2025. Key takeaways TRM Labs traced early unauthorized movements from Binance wallets starting around 8:05 pm UTC Thursday, spanning multiple blockchains. Binance reserved over $6.34 billion to cover losses, including $5 billion already held in affected tokens, while the remain...
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Bitcoin’s Quantum Risk Emerges as an Economic Concern for Crypto Firms

Quantum computing is increasingly moving from a theoretical threat to a practical investment concern for Bitcoin, according to Muneeb Ali, founder of the Stacks ecosystem. Ali argues that uncertainty around a future “quantum-resistant” upgrade—combined with the slow, contentious pace of change on Bitcoin—could deter institutions well before any cryptographic break ever reaches the network. While the debate continues, traditional crypto markets are also being reshaped by regulation and new products. This week’s developments include Ripple’s final step toward operating a US federal trust bank tied to RLUSD, Circle’s USDC expanding in euro stablecoin trading under MiCA-driven exchange restrictions, and VanEck launching a multi-asset ETF with a measured allocation to Bitcoin exposure through spot-linked vehicles. Key takeaways Stacks founder Muneeb Ali says quantum risk is already influencing institutional confidence, not just future technical security. Ali’s timeline emphasis center...
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