Following the largest crypto hack in history, Binance launched phased withdrawal services starting at 14:00 Beijing Time on November 1, 2026. Some users opted to transfer their assets from the exchange to personal cold wallets after withdrawal channels reopened, seeking more autonomous custody. However, the concentrated withdrawal period post-reopening is a high-risk window for Address Poisoning attacks. Attackers target public addresses or addresses with recent transaction records, flooding them with "poisoning transactions". The fake addresses used in these transactions closely mimic users’ real addresses in several leading and trailing characters (typically the first and last four characters are identical), aiming to trick users into accidentally copying the wrong address from their wallet history during rushed operations, or having intermediate characters replaced by malware-infected clipboards. BlockBeats reminds users that when initiating withdrawals from a trading platform, they should manually verify all 42 hexadecimal characters of the target address in full, and recommends conducting at least two to three independent checks, avoiding reliance on auto-filled history, recent transaction lists, or system clipboard content.

Binance announced on social media that the platform began phased withdrawal service restoration at 14:00 Beijing time on November 1, 2026. As of 20:36 on November 1, withdrawals have been restored for all 15 networks and assets in the initial phase. Following an initial surge in withdrawals, withdrawal volumes have declined and stabilized as expected, while deposit volumes remain at high levels. Between 14:00 and 23:30 Beijing time on November 1, Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in a net outflow of approximately $3.64 billion. Per the latest available Proof of Reserves (PoR) data as of October 28, 2026, this figure represents 2.1% of the platform’s $171 billion in Assets Under Management (AUM). A new PoR snapshot was generated at 8:00 on October 31, and zero-knowledge proof (ZKP) calculations have commenced. The updated report is scheduled to be released tomorrow on Binance’s PoR website.

U.S. Senator Cynthia Lummis, a lead drafter of the CLARITY Act, stated in a post that hackers stole $6.3 billion worth of cryptocurrency assets this week and transferred them across multiple blockchains in minutes. The CLARITY Act establishes a pilot program enabling crypto firms to share intelligence directly with federal law enforcement. When the industry and law enforcement work in tandem, the transfer of stolen funds can be curbed.

US President Donald Trump said that if the Democrats win a majority in Tuesday’s midterm elections, he may have to act as “Mr. Veto.” “They will keep sending bills, and you just veto them,” he said. “After a month or two, once all the proposals have been vetoed—you know, these bills are pure waste—they will come to negotiate with me.” Trump will hold campaign rallies in Kansas and Iowa on Sunday to help the Republican Party retain control of Congress. Polls show that Trump’s low approval rating has given the Democrats a chance to take at least one chamber, or even both, of Congress. “Hopefully we won’t have to go that route,” he said.

A Binance spokesperson said: "Withdrawal volumes saw an initial surge but have since trended sharply downward. Withdrawal levels are stabilizing, returning to what we consider normal and expected on-chain activity levels; the scale of withdrawals accounts for a very small portion of our total assets under management."

Trump said, "We may reach an agreement with the Democrats at some point."