It’s been a wild week. The Binance hack and its aftermath barely gave us time to breathe before Bitcoin took another hit during the midterms. Both selloffs dragged the wider market down with them. If you’re catching up, here’s our breakdown of why Bitcoin is down.
It got so ugly that even Trump Media started selling Bitcoin. Meanwhile, hacks and exploits kept landing on the timeline. We’ve been covering them as they emerge, including the latest Keplr and Web3Auth breach.
The trouble hasn’t stayed inside crypto, either. The Paraguay bank crisis has now brought down a president. Elsewhere in Latin America, Nubank and Mercado Pago paused crypto transfers following a problem with an outside provider.
We traded through the chaos and shared plenty of good setups. We also got stopped out a few times. Right now, I have no open positions. I’m waiting for the charts to give me something worth taking.
Sometimes, no trade is the trade. Picking a direction just because you’re bored is an expensive habit. I want to play the probabilities, and that means being willing to sit out.
As always, we’re keeping an eye on the news while we wait. Following our previous roundup covering the LIBRA case and airdrop updates, here’s another batch of stories worth your time.
1. Paraguay Bank Crisis: Peña Removed and Placed Under House Arrest
Paraguay’s banking crisis has become a full political collapse. On November 6, the Senate removed President Santiago Peña from office over the failure of Ueno Bank. He was subsequently placed under house arrest, while Vice President Pedro Alliana took over to complete the presidential term ending in August 2028.
Peña had offered to resign the day before. Congress pushed ahead with impeachment instead. That distinction matters: removal through impeachment strips him of the lifetime Senate position and immunity normally available to former presidents.
At the center of the crisis are roughly 2.94 million Ueno customers whose accounts were frozen. Cards, transfers and access to savings stopped working. Public money was caught up in the failure too, including pension and healthcare funds.
Lawmakers accused Peña of conflicts of interest, improper influence and preferential treatment linked to Ueno. His former financial ties to the bank and the appointment of former Ueno chairman Carlos Carvallo as central bank chief came under scrutiny. Those allegations are now part of a wider legal and political reckoning.
For depositors, though, the immediate question is much simpler: when can they access their money?
We covered the failure in our Ueno Bank collapse breakdown. For readers exploring alternatives, our guide explains how to buy Bitcoin in Paraguay, including the practical steps involved.
Watching a bank failure turn into a presidential removal within days is extraordinary. For the people waiting outside closed branches, it’s also painfully personal.
2. Airdrop Updates and Claims You Shouldn’t Miss
The market can be a mess while your claim deadlines keep ticking. Farming for months and then missing registration is a particularly annoying way to finish.
We’re planning to launch an airdrop calendar soon to track token generation events, claims, distributions and important actions. Until then, keep checking these roundups for the updates most likely to need your attention.
- Extended: The community allocation is 300 million XTEN, or 30% of supply, fully unlocked at the token generation event, commonly called the TGE. The final conversion is approximately 4.29 XTEN per Xpoint. A TGE date remains unannounced, and EU spot trading is not planned at launch.
- infiniFi: Eligible Season 1 and Season 2 farmers need to register for INFI before November 10 at 15:30 UTC. Registration is a separate step, so having earned points does not mean you’re finished.
- Aster: Stage 6 participants who selected the vested option can now claim their full allocation. The window closes December 4 at 12:00 UTC.
- Elysium: The public mainnet launch is scheduled for November 9. Our Elysium explainer covers the network and what to know before getting started.
- ZetaChain: A proposal would halt its layer-1 network around December 9 and migrate native ZETA to Solana at a 1:1 ratio. Voting is scheduled to close November 7 at 16:12 UTC. Under the proposed process, self-custody holders would claim through ZetaHub, while supported exchanges would handle conversion for their customers. Check the final result and instructions for where you hold your tokens.
Keep farming through the noise if the opportunities still fit your plan. A red chart doesn’t cancel a claim window. Just give registrations, deadlines and project updates the same attention you give your points balance.
3. ZachXBT Links Crédit Mutuel Arkéa to a Suspected $133 Million Crypto Theft
Another bank has found itself in the crypto headlines for all the wrong reasons.
Blockchain investigator ZachXBT identified French banking group Crédit Mutuel Arkéa as the suspected victim of a theft exceeding $133 million. His estimate grew after he traced additional withdrawals from centralized exchanges.
Arkéa subsequently confirmed a cyberattack involving fraudulent transactions. It said the incident was under control and customers would face no financial consequences. However, the bank did not confirm ZachXBT’s loss estimate or disclose whether the affected funds had originally been held as crypto or traditional currency.
Separately, Bitquery traced about $108.8 million in USDC leaving accounts at Kraken, Crypto.com and OKX over November 1 and 2. That traced amount should not be confused with an independently confirmed total loss.
Crypto.com said it blocked funds connected to the incident. OKX also reported freezing an institutional customer account after detecting unusual activity, with no indication of wider effects on other accounts.
The case shows how quickly money can move between exchange accounts, wallets and assets while investigators try to catch up. It also explains why ZachXBT’s investigations attract so much attention.
4. Chainalysis Breach Expands Beyond Names and Emails
Even the companies helping investigate crypto crime are having a rough week.
Chainalysis initially disclosed an intrusion involving AI-assisted attack techniques and exposed customer identity data. Its later updates describe a more serious incident.
The company now says names, usernames, password hashes and live tokens for all users were exposed. It also reported that an attack intercepting communications exposed some customers’ passwords. Password hashes are stored representations of passwords; their exposure still creates risk.
Chainalysis took products offline after detecting abnormal activity. As of its November 6 update, it had begun restoring KYT transaction monitoring and Address Screening in phases. Users regaining access must reset passwords and rotate applicable API keys.
The company says it has no evidence that investigation data was accessed or its blockchain attribution data was manipulated. It has also said this incident is separate from the Binance theft.
For affected users, the practical steps are to follow the updated recovery instructions, replace reused passwords elsewhere and watch for suspicious login prompts.
5. Yuga Labs Previews Explorable Otherdeeds in Otherside
Some actual building news to finish with.
Yuga Labs says Otherside players, known as Voyagers, will soon be able to explore Otherdeeds and harvest resources. Unreal Engine’s procedural generation tools will turn each deed’s existing traits into terrain and resource layouts, giving the 100,000 plots distinct worlds to explore.
The planned economy includes 74 resource types represented by ERC-20C tokens on ApeChain. Deposits replenish over time, but production has onchain limits. Harvested resources begin unsecured and can be lost before players bring them to safety. Landowners will also set the split between themselves and visiting harvesters.
Early access starts with Yuga-owned deeds, four environments and a limited resource selection. Balancing changes and resource resets remain possible, although Yuga says crafted items will remain with players.
Adam Weitsman, one of the largest Otherdeed holders, must be thrilled to see the project moving toward playable land. After all the waiting, I’m interested to see how the harvesting loop feels once people can actually get in.
Final Words
The Paraguay bank crisis, another major suspected crypto theft and the expanding Chainalysis breach made this a week where keeping up felt like a full-time job. Somewhere between all that, airdrop deadlines kept moving and Otherside gave landholders something new to look forward to.
I’m still watching the charts, but I’m comfortable having no open trades right now. There will be another setup. I don’t need to force one out of a week like this.
Until then, check your claims, keep up with the projects you’re farming and give yourself permission to wait. Sometimes protecting your attention is part of protecting your bankroll.
