The day in tech.

Binance reports a security breach causing an estimated $6.3 billion in losses, the largest in crypto history. The firm froze about $3 billion on-chain and suspended deposits while promising to cover all losses from its SAFU and own funds. North Korea's Lazarus Group linked to theft. Stablecoin issuers Tether and Circle froze over $2 billion.

Federal investigators found Alice Huang, a Megaspeed executive, was a Chinese intelligence asset in late 2024. Despite this, President Trump chose not to act on the findings last year, even though Nvidia stock rose 1,250% since late 2022. Administration allowed Nvidia H200 chips to China.

DoorDash announced Thursday it will acquire Instacart for approximately $17 billion, a 26% premium to its closing price on Oct. 22. The deal requires stockholder approval and regulatory clearance, expected to close by end of 2027 or first half of 2028, combining two major delivery giants.

Intel shares fell 22% after CEO Lip-Bu Tan projected fourth-quarter revenue of $15 billion to $16 billion, missing analyst expectations of $17 billion. While third-quarter revenue reached $16.5 billion, data center and AI revenue jumped 78% to $7.3 billion. Tan cited memory pricing and a closed Israeli factory as causes.

Polymarket resumes trading Thursday at 3 p.m. ET after a security incident with third-party provider DebugBear. The platform compensates affected users following reports of drained funds. Blockchain activity shows an attacker's wallet received $2.5 million from over 900 transactions.

Tech shares slumped in Asia on Friday as investors fled to bonds fearing AI spending may not deliver returns. Alphabet shares fell 12.6%, wiping out $500 billion in value, while Intel shares plunged 23%. The drop followed a record-breaking hack at Binance and a Federal Reserve decision to hold US interest rates.

Polymarket halted international trading Thursday after a UK-based vendor breach drained roughly $2.7 million from 700 users. The company promised refunds and notified British authorities while suspending new orders. This incident follows a June 2026 breach causing over $2 million in losses. Hudson Rock identified attacker wallet 0x3F99139F1C5854bb628c2e576Aaf638e99dFfc18 which held approximately $2.19 million in cryptocurrency at investigation time.

Prediction market Polymarket pauses trading after a $2.65 million exploit involving a compromised third-party provider. Arkham data revealed the attacker holds funds in POL tokens. The platform placed its exchange in cancel-only mode and paused relayer actions while investigating the incident. Malicious code hosted on DebugBear caused the breach, while a previous breach in May drained $700,000.

Prediction market platform Kalshi secured $1 billion in Series G funding at a $40 billion valuation, co-led by Wellington Management and Sequoia Capital. This follows a prior $22 billion valuation, representing an 82% increase, as the company expands into multi-asset trading amid legal scrutiny over sports contracts from Utah and the CFTC.

Intel shares plunged 18% after the chipmaker forecast fourth-quarter revenue between $15 billion and $16 billion, below Wall Street expectations. A factory explosion in Israel killed two people and cost roughly $600 million in lost revenue over two quarters due to a two-week shutdown.