Wallets linked to the Binance theft had converted about $50 million of stolen XRP into bitcoin through 6 November, Altcoin Buzz reported, citing blockchain analytics firm Elliptic. Separately, a US retirement-investment rule reached White House review and South Korean exchange Gopax halted trading and withdrawals, the outlet reported.
The developments span stolen assets, retirement-plan investment choices and access to funds at a crypto exchange. Altcoin Buzz reported that about $226 million of XRP remained in theft-linked addresses, while Gopax customers could no longer make direct withdrawals through its website or app. The outlet also reported that the XRP Ledger had closed a flaw involving the unauthorized creation of issued tokens.
Binance theft and XRP conversions
The XRP conversions linked to the Binance theft took place mostly through THORChain, Altcoin Buzz reported, citing Elliptic's update covering activity through Friday 6 November. The outlet reported that the wider trail encompassed at least 65,000 transactions across 16 blockchains, involving over 20,000 wallets and using at least 36 services.
Binance estimated the value of assets taken in the Binance theft at $6.34 billion, while Elliptic put the total at $6.43 billion, Altcoin Buzz reported. Both identified 29 October as the date of the theft and said it involved 11 blockchains, according to the publication.
Elliptic estimated that about $3.11 billion remained in linked addresses, mostly in ether and bitcoin, and that $2.85 billion had been frozen or seized, Altcoin Buzz reported. Those figures cover the wider theft, rather than only the XRP addresses.
All of the SOL stolen in the Binance theft, worth about $87 million at current prices, has been moved through swaps, bridges or mixers, Altcoin Buzz reported. Much of it now forms part of roughly 1,650 bitcoin, worth about $124 million, converted from stolen assets, according to the outlet. Elliptic's analysis linked the laundering operation to North Korea, Altcoin Buzz reported.
401(k) rule under review
A final US Department of Labor rule covering alternative assets in 401(k) plans is with the Office of Information and Regulatory Affairs, Altcoin Buzz reported. The office logged the package on 5 November under the identifier RIN 1210-AC38, according to the publication.
The docket lists the Employee Benefits Security Administration as the authoring office, identifies the package as a final rule and designates it economically significant, Altcoin Buzz reported. The publication said the review is a procedural step that usually precedes public release, but that the rule is not yet in force.
Under the proposal issued March 30, plan fiduciaries following a documented process would receive a legal safe harbor under ERISA when selecting designated investment alternatives, Altcoin Buzz reported. The proposal set out six non-exhaustive factors for them to consider and provided a 60-day comment window after publication in the Federal Register, the outlet reported.
Altcoin Buzz reported that crypto falls within the alternative-assets category and that most 401(k) sponsors have avoided it. The department's fact sheet ties the proposal to Executive Order 14330, which calls for access to funds holding alternative assets when a plan fiduciary determines that access offers an appropriate opportunity to improve risk-adjusted returns, according to the publication.
Gopax pauses trading and withdrawals
Gopax halted standard withdrawals on Friday, 6 November, at 2:55 p.m., then stopped trading at 3:53 p.m., after receiving an email claiming the exchange could be hacked, Altcoin Buzz reported. An exchange official said the threat had not been verified, according to the outlet.
The exchange said it was moving all assets it held into cold wallets and that no loss had been reported, Altcoin Buzz reported. The outlet also reported that Gopax had given no date for resuming withdrawals.
Direct withdrawals through the Gopax website and app were temporarily unavailable, and customers were told to apply through the customer support centre, Altcoin Buzz reported. That process followed the suspension of standard withdrawals, according to the publication.
XRP Ledger token-permission fix
An XRP Ledger amendment activated on 4 November at 14:52 UTC, at ledger 108,112,129, Altcoin Buzz reported. The fix closes a permission flaw that, under certain conditions, could have allowed an account authorized to burn issued tokens to create new ones instead, according to the outlet.
Validator support briefly dropped below the required threshold on 21 October, restarting a mandatory 14-day approval period, Altcoin Buzz reported. The publication said the second attempt ran for 14 days and five minutes.
There has been no publicly confirmed exploitation of the flaw, and available disclosures do not identify an issuer that suffered unauthorized token creation, Altcoin Buzz reported. The amendment does not activate the ledger's planned lending system, which requires separate validator approval and remains open for voting, the outlet reported.
Conclusion
Altcoin Buzz reported that Elliptic had traced about $50 million in stolen XRP from the Binance theft into bitcoin, while approximately $226 million in XRP remained in linked addresses. Separately, the outlet said Gopax halted trading and standard withdrawals after a threatening email, and the XRP Ledger activated a fix for a token-permission flaw. The Labor Department's 401(k) package is now with the Office of Information and Regulatory Affairs, according to Altcoin Buzz, which reported that the docket sets no legal deadline for review. The exchange has not announced when withdrawals will resume, the publication reported.
Frequently Asked Questions
How much XRP from the Binance theft has been converted to bitcoin?
About $50 million of stolen XRP had been converted into bitcoin through 6 November, Altcoin Buzz reported, citing Elliptic. The outlet said most of the conversions took place through THORChain. Roughly $226 million in XRP remained in addresses linked to the theft, according to the publication.
What is the status of the U.S. 401(k) alternative-assets rule?
The Labor Department's final rule package has reached the Office of Information and Regulatory Affairs for review, Altcoin Buzz reported. The office logged it on 5 November. The rule is not yet in force, and the docket sets no legal deadline for completing the review, according to the outlet.
Why did Gopax stop withdrawals on Nov. 6?
Gopax halted standard withdrawals after an email claimed the sender could hack the exchange, Altcoin Buzz reported. An exchange official said the threat was unverified. The exchange said no loss had been reported and that it was moving assets into cold wallets, according to the outlet.
What did the XRP Ledger fix on Nov. 4?
The XRP Ledger activated an amendment closing a token-permission flaw on 4 November, Altcoin Buzz reported. Under certain conditions, the flaw could have let an account authorized to burn issued tokens create new ones. The outlet reported no publicly confirmed exploitation and no disclosed issuer that suffered unauthorized token creation.
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