The day in tech.

North Korea's Lazarus Group, also known as TraderTraitor, executed the world's largest crypto heist on Thursday at 4:05 p.m. ET, stealing $6.3 billion from Binance. The state-backed unit used AI to infiltrate the exchange's hot wallet signing system. While 80% of stolen assets are secured, the rest remains unaccounted for.

North Korean hackers breached Binance on Oct 29, stealing $6.3 billion in about 20 minutes. While issuers froze half the stablecoins, remaining bitcoin and ether remain beyond reach as attackers use automation to obscure the trail of funds.

Binance suffered the largest crypto hack in history, losing about $6.3 billion. The exchange froze $3 billion on-chain and absorbed all losses via its SAFU fund. Bitcoin slid over 4% to $77,994.96 following the breach.

Binance co-CEO Richard Teng announced Friday the exchange reserved $6.34 billion to cover losses from a Thursday hack. While the exchange holds $5 billion in affected tokens, it buys the remaining $1.3 billion. Industry partners froze roughly $3 billion, including $1.57 billion in USDT and $800 million in USDC. Withdrawals are currently suspended for users.

North Korea's TraderTraitor unit executed the largest crypto theft on record, stealing approximately $6.36bn from Binance on October 29, 2026. The breach occurred via a compromised engineer's laptop, forcing the exchange to freeze withdrawals. While issuers froze over $2 billion, over $2.4 billion in assets remains movable.

US tech stocks slide as AI build-out costs intensify. Intel shares fell 30% after warning of a weaker computer market. Amazon shares dropped 6% before recovering after earnings missed expectations. The Nasdaq opened down 2.5% at its lowest level in over two months, following Alphabet's value plunge of more than $500bn due to AI summaries affecting core search advertising revenue.

Crypto exchanges are taking quick action to bolster defenses after a record $6.3 billion hack of Binance. Coinbase adjusted systems out of caution while Kraken monitors incidents. Bitcoin fell more than 4% and ether fell more than 5% on Thursday before recovering some ground on Friday.

Intel stock fell nearly 30% to $65.76, erasing over $146 billion in market value. The chipmaker forecast fourth-quarter revenue of $15 billion to $16 billion, below the $17.07 billion analysts expected, and adjusted earnings per share of $0.25 versus $0.43.

S&P Global Ratings assigned a negative outlook to Meta on Friday due to uncertainty over elevated AI spending and negative free cash flow of $2.12 billion. The company expects full-year capex between $135 billion and $145 billion while beginning a $35B share sale. Leverage expected to rise above 1.0x by 2027. Stock finished October down 15%.

Hacktivist group Department of Peace leaked 41,191 US Department of Homeland Security employee records on Oct. 28 via Icepick. The archive contains 55,000 permission groups, Palantir Falcon access, and AI tools like ChatGPT and Gemini, with newest records from August 19.