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3B of *what* "frozen"? You can't freeze ETH or BTC lol. And tbf the comments are entertaining. "Unauthorized" withdrawal requests...? Via one dev laptop? Of $6B? Look forward to their spin. Or maybe it's all a BS story to cover up something worse.

No no it'll be "Secured from Hackers ETH", or SHETH

In Feb. 2025 Bybit had $1.5 billion in ETH stolen. That's almost twice the ETH that was stolen just now. No fork. Things have changed rather a lot since the days of TheDAO.

**Tricky's Daily Doots #1,638** **Yesterday's Daily 28/10/2026** [Previous Daily Doots](https://old.reddit.com/r/ethereum/comments/1xhf5rv/daily_general_discussion_october_28_2026/19rs46wynng69/) - u/haurog compares [all the different tokenised stock offerings.](https://old.reddit.com/r/ethereum/comments/1xhf5rv/daily_general_discussion_october_28_2026/19rrx1a31b99h/) 📊 - u/ethdaily delivers [the daily ETH news](https://old.reddit.com/r/ethereum/comments/1xhf5rv/daily_general_discussion_october_28_2026/19rt0td6dodr6/) 📰 - u/Alexander-305 lists [a few things to consider when trading tokenised stocks.](https://old.reddit.com/r/ethereum/comments/1xhf5rv/daily_general_discussion_october_28_2026/19rt32j2rbxd1/) 🧐

That simply removes ETH from the ecosystem reducing total supply and increasing its value long term.

They did that because it was ETH's fault (some clever minds used an exploit in ETH, that shouldn't exist).

The stable coins were froze but only after the hacker put them up for collateral and borrowed ETH

almost 2 years ago bybit was hacked, and 1.5B of ETH were withdrawn, this was recovered fast

ETH doesn't capture value. It's really that simple, and this has been proven out year after year. Ethereum network usage is healthy, yet ETH price continues to bleed out because it has zero automated buybacks and the "burns" are next to nothing.

What I'm reading is this was an ETH contract exploit so should have no impact on Bitcoin holdings.

🌍 **Macro** The Fed held rates steady at 3.75%–4.00%, as expected, lifting U.S. stocks. Memory stocks rallied after SK Hynix reported a sevenfold increase in Q3 operating profit, while Google’s weaker earnings reignited concerns over AI investment returns. BTC reclaimed $81K but stalled near $81.7K as trading volume declined. ⸻ 📈 **Market Snapshot** • BTC: $81,340.4 (+0.53%) • ETH: $2,359.53 (+0.39%) • NASDAQ: 26,549.85 (+0.27%) • S&P 500: 7,744.37 (+0.28%) • F&G: 51 (previous: 51) ⸻ 🧠 **Market Take** The Fed’s decision was expected, but two officials favored a rate hike, highlighting persistent inflation concerns. Corporate BTC holdings have reached 1.3M BTC, up 31% in 14 months, although Strategy accounts for 71% of that growth. Meanwhile, short-term holder profits have narrowed to 5.5%, with their average cost basis near $76.5K. **Key levels:** • Resistance: $81.5K–$81.75K • Support: $80.7K–$81K • Key long-term holder reference: $76.5K • Trend: Consolidating ⸻ 🔥 **Hot Tokens** • **AI/PRIORS:** Gained over 25% and 33%, respectively, after appearing on Robinhood’s asset display page. • **MPLX:** \+60%, with trading volume surging over 28x amid speculative activity. • **PEPE:** \+10% as two dormant whale wallets transferred 2.27T tokens. • **LINK:** \+2% after Chainlink expanded its partnership with S&P Global Ratings to bring risk assessment data onchain. ⸻ 📰 **Key Updates** • **CFTC vs. Utah:** CFTC sued Utah over restrictions on Kalshi, while Utah filed criminal charges against the platform and two co-founders. • **Google:** Introduced MPC-based digital asset custody, targeting commercial launch in early 2027. • **DTCC:** Officially launched its tokenization service, with Ondo Finance as an ecosystem partner. • **Pump.fun:** Integrated Hyperliquid perpetual futures trading. • **Canada:** Raised its benchmark rate by 25 bps to 2.50%. • **Token unlocks:** CARDS unlocks 9.6% ($18.4M) on Oct 30; FLOCK unlocks 40.97% ~~(~~$18.4M) on Oct 31. ⸻ ⚡ **Quick Take** BTC is holding above $81K, but declining volume and resistance near $81.7K suggest momentum remains fragile. Watch the $80.7K support zone, upcoming earnings, and the Bank of Japan decision for fresh market direction.

I asked chatgpt to investigate This means the attacker successfully converted approximately $44.6 million of exposure into ETH that Tether cannot centrally freeze. However, the post is misleading in suggesting that billions of dollars were moved through this technique. Aave identified only one such position, involving $60 million in collateral. Why this works

There is still going to be losses. The hackers moved the stolen USDT to aave, borrowed ETH against it since it can't be frozen and moonwalked away

I thought they hacked ETH wallets

I agree. Likely to be a slow distribution of BTC and ETH over months. But that doesn't mean Binance will implode.

With red across the screen, the first question is whether the exchange’s security issue can be resolved quickly. Buying now also means taking a position on that uncertainty. Reuters and AP report that Binance is investigating a potential security incident. Partners have frozen $2.54 billion in assets; the loss amount remains unclear. Binance says user funds are safe, and Yi He says it will cover hacking losses. Deposits and withdrawals remained paused at the time of reporting. BTC touched $77,646, ETH reached $2,238.76, and BNB fell over 8%. Buyers need concrete answers: when transfers resume, how far the incident extends, and how any compensation will work. Stocks offered little help. The Nasdaq lost 1.37%, and Amazon fell over 5% after hours. Heavy AI spending and slow returns kept weighing on technology shares. Treasury yields declined, yet stocks still fell—buyers need more reasons to return. Gold, XAU, traded around $4,019 overnight. Annual PCE inflation reached 3.6%, keeping a year-end rate hike in play and limiting gold’s support from safe-haven demand. Today, watch the security updates and whether BTC can reclaim $80,000. A bounce while transfers remain paused and the incident’s scope stays unclear carries the risk of fresh headlines reversing it. I’d rather miss the first rebound than rush in without answers. Would you buy the bounce or wait until transfers resume?

ETH Daily - 29th October 📰 \-Binance $5b+ hack. \-Tether freezes 1.5b USDT. \-Circle freezes 800m USDC. \-Arbitrum Sec Council freezes $30m. \-Silver Ethereum CL client. \-Noir 1.0 release. \-Uniswap TJAR. Read more: [https://ethdaily.io/binance-suffers-dollar56-billion-hot-wallet-hack](https://ethdaily.io/binance-suffers-dollar56-billion-hot-wallet-hack)

>ByBit had to buy $1.5 billion in ETH after their hack. >Had zero effect on the price. Are you saying you think the outcome for eth/usd would have been the same if they never rebought? It's as inane as saying the merge had no impact on price while having no data on eth/usd in the universe where it was cancelled forever.

Same thing happened in many other hacks. ByBit had to buy $1.5 billion in ETH after their hack. Had zero effect on the price.

They put down the tether as collateral. Borrowed ETH. Layer that tether was frozen. So whoever lent their ETH is sitting on tether they can’t move

Gas fees have been quiet lately, almost makes me want to finally move some dust wallets around. Also watching this weird split between BTC dominance and ETH lagging, feels like the rotation is just waiting for a spark.

It kind of is, that’s why the hackers have been swapping for ETH since no one can freeze it

ETH should reverse the transactions.

Fair. ETH is more decentralized than just about anything. I wonder what AAVE's docs say about the risks of having its USDC money market frozen funds by the issuer.

Not if they’ve been transferred to Aave and used as collateral to borrow ETH, which is apparently what he did. Not sure who will keep the USDT in that case.