Arthur Hayes: Flop Labs to Announce Testnet Date Next Week

According to MSX.COM data, US chip stocks extended their premarket gains, with Nvidia (NVDA.O) up over 5%, AMD (AMD.O) up over 8%, and SanDisk (SNDK.O) up over 12%.

Odaily reports: According to blockchain analytics firm Elliptic, as of 16:45 Beijing time on November 6, approximately 1,650 BTC (about $124 million) linked to the Binance theft incident has entered new Bitcoin addresses, nearly double the amount from the previous day. The新增 portion mainly came from converting XRP to Bitcoin via THORChain: of the 233 million XRP transferred by the hacker to 6 new addresses on November 2, about 42 million (approximately $50 million) has been moved out, with about 192 million (approximately $226 million) remaining. In addition, a small amount of ETH was also converted to Bitcoin via THORChain on the evening of November 5.

Odaily reports: The nonprofit cybersecurity organization Security Alliance (SEAL) estimates that the North Korea-linked hacking group TraderTraitor had gained access to Binance's systems about 8 weeks before the $6.3 billion attack that occurred on October 29. In its report, SEAL noted that the attackers may have breached the systems at some point in September and operated covertly for an extended period after the initial intrusion.SEAL also found that TraderTraitor was associated with at least 4 shell companies in a 2026 fake recruitment campaign, namely citalab.net, citalab.com, bitfit.io, and oddium.io. The organization estimates that the attackers had about 6 weeks of access before the $388 million attack on Bitget, had accessed LayerZero for about 6 weeks before the $293 million attack on Kelp DAO, and lay dormant for about 3 weeks before the $24 million attack on AFX.Binance attributed the attack to a fake job interview, saying the attackers used it to take control of an employee's device and steal credentials, thereby breaching the exchange's wallet infrastructure. Binance also said the campaign can be traced back to June, when another employee's device was compromised; the U.S. Federal Bureau of Investigation attributed the attack to TraderTraitor. (Cointelegraph)

1. Analysis: BTC reclaiming $76,000 still fails to reverse weakness, as US tech stock selloff hits crypto market;2. Ansem shifts focus to US stocks: Micron and some AI-related stocks oversold, may enter prolonged consolidation after rebound;3. Arthur Hayes: Flop Labs to announce testnet date next week;4. Trump plans to continue raising political funds, aiming to restore influence after midterm election losses;5. Binance plans to resume withdrawals of six assets including HYPE before the end of next weekend;6. Pump.fun transfers another 68,260 SOL to Kraken after 15 days, worth approximately $6.15 million;7. Ethereum Foundation calls for self-audit of Glamsterdam's eight invariants, Hoodi testnet fork delayed;8. US Department of Justice establishes Superintelligence Special Task Force to strengthen enforcement against technology misuse and risk management.

Odaily: Arthur Hayes posted on X that Flop Labs Devnet is in preparation. To maximize returns during the testnet period, users should complete their preparations before the airdrop period begins; the testnet date will be announced next week.

Odaily Report: Trump has told advisers he plans to continue raising funds for his political operations to recover his political influence after the Republican Party's crushing midterm election defeat. Maintaining a political organization—whether the existing MAGA Inc. Super PAC or a newly formed entity—would give Trump a platform to influence the 2028 elections and beyond, including the next presidential race. It would also enable Trump to exert pressure on Republican lawmakers considering breaking with him.During the 2026 Republican primaries, Trump's MAGA Inc. helped maintain party discipline by helping defeat Kentucky Republican Representative Thomas Massie, an outspoken critic of Trump. But with Democrats controlling Congress and major donors beginning to shift their attention to the 2028 election, Trump's fundraising may become more difficult. (AXIOS)