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Binance hasn’t REcovered $6B+, it’s COVERING it (reimbursing customers from company funds).

Bad headlines like this are a big part of why I started covering crypto. Generalist reporters on deadline far too often end up repeating company spin.

headline

Reuters headline: “Binance to resume withdrawals after recovering bulk of $6 billion in stolen funds”

Reuters · Nov 1 · original

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Quoted

If you are reading this, you are someone who reads the news, and if you are someone reading the news, that hand is throttling your heart right now.

On some level, you know this, but you are likely so used to it that you do not really know how hard it’s squeezing, and how much it saps your strength.

↗ read in context

There is a difference between burying your head in the sand and periodically reminding ourselves that the world can be beautiful and good. We have somehow become convinced that turning away even for a second is a betrayal of the most vulnerable amongst us, but constant activation paralyzes us with dread and leaves us too exhausted to take action. Hyperawareness is not a virtue, it’s a symptom of mental illness—ask your complex post-traumatic stress disorder friends about it sometime. We are not betraying the cause by turning off our phones for a few hours; we are not lazy pieces of shit who deserve to be poor when we opt for sleep over pseudoproductivity.

↗ read in context

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“After a Tragedy, I Spent a Month Away From Our Online Dystopia. It Changed Me.”
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Posted

The healthcare marketplace would like me, a self-employed person with no recorded disabilities who has never served in the military, to prove that I don’t have insurance through an employer, the VA, or Medicare.

Apparently I am meant to do this with things like a letter from my employer saying they don’t over me coverage?? “Dear me, I regret to inform us...”

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Posted

this is a very weird headline to run alongside an article that essentially says that an organization that believes in the importance of fair use thinks that fair use should not be interpreted in a way that narrows existing copyright law

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Posted

In July 2024, I reported that Coinbase appeared to be violating campaign finance law by making contributions while holding federal contracts. I filed an FEC complaint alongside Public Citizen. The FEC hasn’t acted. Since, Coinbase has given $60M more and landed another federal contract.

Coinbase responded to the initial complaint by arguing that, despite having received a federal contract, they were not a federal contractor — then insinuated I had secret funders and made lightly veiled legal threats against me.

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Published

Citation Needed

It’s always North Korea

Answering your questions about who was behind the Binance hack, how they launder the money, and where it goes

Read in Citation Needed → · subscribe

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2026 Binance hack · 3 of 4
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North Korea gets away with around $3 billion from Binance
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Binance’s Changpeng Zhao threatening Elon Musk that he will nuke $1 billion in…
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Published

Citation Needed

North Korea gets away with around $3 billion from Binance

Stablecoin issuers froze about $2.4 billion of the roughly $6.3 billion stolen. The rest exceeds Binance’s insurance fund, and the man promising to make users whole isn’t supposed to be running the company.

Read in Citation Needed → · subscribe

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2026 Binance hack · 2 of 4
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It looks like Binance is getting drained right now, across multiple hot wallets…
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It’s always North Korea
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Live coverage · ended · Oct 29, 5:30–5:52 pm EDT

  1. It looks like Binance is getting drained right now, across multiple hot wallets, for $2B and counting.

    Pretty normal for exchanges to migrate wallets, not normal for them to then swap to Tether and dump

    Image
  2. Tether starting to freeze assets

    Blacklisted / Frozen
As of 2026-10-29 21:30 UTC · Ethereum
This address is on Tether’s blacklist.
First blacklisted
2026-10-29 21:02 UTC
Latest event
2026-10-29 21:02 UTC
View on the full tracker
  3. Binance founder Changpeng Zhao, who is legally not allowed to have any managerial role with the company yet still has remarkable amounts of inside knowledge into its goings on, has tweeted that Tether and Circle have frozen around $1.8B

    (he's just a shareholder, you see)

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North Korea gets away with around $3 billion from Binance
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Read · Oct 27