Tech stocks plunge amid AI concerns as $6.3 billion Binance hack raises security fears

As of November 1, 2026, Binance, the world's largest cryptocurrency exchange, has resumed withdrawals for some major cryptocurrencies like Bitcoin and Ethereum after covering approximately 95% of the $6.3 billion in tokens stolen from its platform on October 29. The FBI attributed the theft to North Korea. In response to the hack, Tether and Circle, which issue stablecoins, had frozen over $1.5 billion and roughly $2 billion respectively. Binance assured users their funds were safe and would cover all losses with company assets. The extent of damage from hackers was significant, surpassing the previous largest crypto theft in February 2025 by the North Korean-linked Lazarus group, which stole around $1.5 billion from ByBit.