Skip to content
Drix10 Blog

Binance hot wallet hack, $8.8M Ethena exposure

, 8 items in Crypto and Web3, 4 min read

In this digest (8 items)

Binance suffered a hot wallet hack. Tether and Circle froze USDT and USDC linked to it. Ethena reports limited $8.8M impact, covered by its $60M reserve fund. Liquidity is being withdrawn from several markets as a precaution.

Key points

  • Tether and Circle have frozen a significant amount of USDT and USDC linked to the incident

  • Ethena’s potential impact is $8.8M, fully covered by its $60M reserve fund

Sources

Binance hot wallet incident update – collateral unaffected, exposure <$10M

Binance hot wallet incident update says no collateral backing vaults is affected and Ethena’s exposure to Binance is below $10M, covered by its insurance fund. Withdrawals operate normally; some Morpho markets may have reduced liquidity.

Key points

  • Collateral: No collateral backing vaults is affected, includes Figure, OnRe, Huma, Avant, InfiniFi, Tori, Re, Obligate, f(x) and Coinshift across all chains.

  • Indirect exposure: Ethena’s potential exposure to Binance is below $10M and falls within the coverage of its insurance fund (over $60M).

Sources

Binance covers ~1 bn loss, 0.69% of 144 bn assets under custody

Binance says all losses will be covered and funds are SAFU. The total loss is around ~1 bn, which is 0.69% of its 144 bn assets under custody.

Key points

  • Loss amount: ~1 bn

  • Loss proportion: 0.69% of 144 bn assets under custody

Sources

Binance-affiliated wallets incident, markets frozen on V3 and V4

Binance-affiliated wallets may be impacted. Aave contracts are unaffected and positions stay overcollateralized. All V3 and V4 markets are frozen, pausing new deposits and borrows while allowing withdrawals and repayments.

Key points

  • Incident reports affect Binance-affiliated wallets.

  • Freeze pauses new deposits and borrows; withdrawals and repayments remain possible.

Sources

Binance Alpha trading suspended temporarily

Binance Alpha trading is temporarily suspended due to a security issue; user funds remain safe. Trading will resume once the issue is resolved and updates will be provided.

Key points

  • Binance Alpha trading temporarily suspended.

  • User funds remain safe.

Sources

Aave markets frozen, collateral LTV set to 0

Aave froze its v3 markets on mainnet and set the loan-to-value ratio for collateral assets to 0, preventing new borrowing. Existing debt remains backed and can be repaid or cleared with tools like DeFiSaver.

Key points

  • LTV ratio for collateral assets is 0.

  • New borrowing is disabled while collateral LTV is 0.

Sources

Pulsar Earn launch on Arc with Morpho and Steakhouse

Pulsar Earn is now live on Arc, bringing on-chain yield to a money app. It is powered by Morpho and curated by Steakhouse. The post promotes the new feature.

Key points

  • Launch: Pulsar Earn is now live on Arc.

  • Partners: Powered by Morpho and curated by Steakhouse.

Sources

Better Auth security release scheduled for 2026-11-03

Better Auth announced a security release scheduled for Tuesday, November 3 2026. The related advisories will be published on GitHub Security Advisories at the same time.

Key points

  • Security release date: Tuesday, November 3 2026.

  • Advisories publication: GitHub Security Advisories concurrently.

Sources