Over $106 Million Vanishes in Multi‑Chain Heist Targeting EU Entity
We cover a massive crypto theft from an EU entity, Tom Lee’s view on the AI stock slump, prediction‑market odds for the 2026 midterms, a European supermarket fridge hack, Treasury cash levels and a Supreme Court case involving Custodia Bank.
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This is COINMAG Daily, your crypto briefing for Tuesday, November 3. A coordinated attack on an EU‑based exchange saw more than one hundred six million dollars ripped out of its accounts on November first. The thieves quickly swapped the stablecoins for ether and then funneled a portion into monero, a privacy coin that makes tracing difficult. That kind of loss shakes confidence and highlights how fast attackers can move value across chains.
Turning to markets, fund strategist Tom Lee says the recent plunge in AI‑related stocks has finally hit bottom. He points to a tight supply of chips and notes that the crypto sector barely flinched after the Binance hack, suggesting resilience in digital assets. Lee’s view adds a note of optimism for investors watching the AI frenzy.
In the political arena, two prediction markets – Polymarket and Kalshi – are betting heavily on the 2026 midterms. Both platforms give Democrats a roughly three‑quarters chance of holding both the Senate and the House. Those odds line up with traditional polling and could shape how campaigns allocate resources.
Meanwhile, a cyber incident has hit European supermarkets. Hackers remotely set refrigeration units in six countries to defrost, threatening millions of euros in spoiled food. Authorities are probing whether state‑linked actors are behind the attack, and the incident underscores how vulnerable supply chains can be.
On the macro side, the U.S. Treasury’s general account is hovering near one trillion dollars. Upcoming borrowing decisions will test whether a drawdown in that cash pool eases funding pressures for bitcoin and other digital assets. The size of the balance acts like a hidden lever for liquidity in the crypto market.
Finally, Custodia Bank has asked the Supreme Court to step in after a lower court allowed regional Federal Reserve branches to deny payment‑system access to eligible banks. The bank argues the ruling blocks its ability to serve customers and could set a precedent for how banks interact with the Fed’s infrastructure.
Full stories at coinmag dot org. See you tomorrow.