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US spot Bitcoin ETFs recorded USD 115.56 million in net outflows, with BlackRock's IBIT accounting for USD 94.98 million in withdrawals.
Solana's co-founder highlighted phishing risks, while Zcash released Zebra 7.0.0 with seven security fixes ahead of its NU7 upgrade.
BitMart confirmed a breach involving approximately USD 391,000.
The crypto market witnessed several key developments as spot Bitcoin ETFs recorded USD 115.56 million in net outflows, while Solana’s co-founder warned about rising phishing threats. Meanwhile, Zcash announced seven security fixes, Hong Kong passed a new crypto tax reporting law, and BitMart confirmed a USD 391,000 security breach.
SoSoValue’s data shows the Bitcoin spot ETF saw a total net outflow of USD 115.56 million yesterday. The Bitcoin Spot ETF with the highest net inflow yesterday was Bitwise's ETF BITB, with a daily net inflow of USD 21.92 million, and the total historical net inflow of BITB currently stands at USD 2.04 billion.
The second highest was Fidelity's ETF FBTC, with a daily net inflow of USD 6.76 million, and the total historical net inflow of FBTC currently stands at USD 10.19 billion. The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of USD 94.98 million, and the total historical net inflow of IBIT currently stands at USD 65.81 billion.
The total net asset value of Bitcoin Spot ETFs is USD 99.16 billion, with an ETF net asset ratio of 6.33%. The historical cumulative net inflow has reached USD 56.47 billion.
Solana co-founder Anatoly Yakovenko said phishing and social engineering attacks are the biggest threat to crypto and advised investors to worry more about social engineering attacks than about AI or quantum computers breaking crypto security.
"Phishing and social engineering are the biggest threat to crypto. Not AI breaking math or quantum computers," he wrote on X. The Solana co-founder also suggested having a separate iOS device with Apple's Lockdown Mode turned on and using a multisignature crypto wallet.
Yakovenko's point becomes clear with the recent massive hack at Binance. The world's largest crypto exchange, Binance, faced a security breach on Oct. 29 that affected around USD 6.34 billion in digital assets.
The Zcash Foundation published an engineering report this November 3 detailing seven security fixes in Zebra through the release of version 7.0.0, laying the technical groundwork for the activation of the NU7 network upgrade on mainnet.
The organization’s data clarifies that full-node operators must upgrade their software before block 3,543,405 to remain aligned with the network’s consensus chain.
The technical report explains that six of the identified flaws allowed a malicious peer node to halt synchronization, monopolize verification resources, or trigger the erroneous banning of honest peers.
The implementation of Zebra 7.0.0 also brings structural changes to local storage. Developers indicated in the GitHub release notes that the node state migrates from format v28 to v29 during the first launch, without requiring a full download from the genesis block.
Also Read: Bitcoin Falls Below USD 76,000 as US Midterm Results Shake Crypto Markets
Hong Kong has passed a new crypto tax reporting law that will require digital asset service providers to collect transaction information from 2027 and allow authorities to share the data with overseas tax agencies starting in 2028.
According to a November 4 government announcement, the Legislative Council approved the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026.
The legislation introduces the OECD’s Crypto-Asset Reporting Framework, commonly known as CARF, alongside changes to the existing Common Reporting Standard, or CRS, which governs the exchange of financial account information between tax authorities.
Under the new requirements, covered crypto businesses will need to collect customer and transaction details for submission to Hong Kong’s Inland Revenue Department.
Cryptocurrency exchange BitMart has confirmed it suffered a security breach on November 2, with its initial investigation suggesting that the attackers may be responsible for the recent hack of Brazil’s Mercado Bitcoin.
In a November 3 statement on X, BitMart founder Sheldon Xia acknowledged the incident after blockchain transactions surfaced showing funds moving from wallets associated with the exchange to an address linked to the Mercado Bitcoin exploit.
“Yes, we got hacked yesterday too,” Xia said, adding that the amount involved was small and that the company had quickly investigated the incident and strengthened its security measures. In its on-chain investigation, Bitquery estimated that approximately USD 391,000 had been drained from wallets mostly linked to BitMart, beginning around 53 minutes before the larger attack.
Also Read: Top 10 Ethereum Ecosystem Developments to Watch in 2027
1. How much money flowed out of Bitcoin spot ETFs?
According to SoSoValue, Bitcoin spot ETFs recorded USD 115.56 million in net outflows. BlackRock's IBIT experienced the largest withdrawals at USD 94.98 million.
2. What did Solana's co-founder say about cryptocurrency security?
Anatoly Yakovenko identified phishing and social engineering as major threats to cryptocurrency users. He recommended using a dedicated iOS device with Lockdown Mode and a multisignature wallet.
3. What security improvements did Zcash introduce?
The Zcash Foundation announced seven security fixes through Zebra version 7.0.0. Node operators must upgrade before block 3,543,405 to remain compatible with the network's consensus rules.
4. What is Hong Kong's new cryptocurrency tax reporting law?
Hong Kong approved legislation requiring covered crypto service providers to collect customer and transaction information starting in 2027. Authorities will begin sharing relevant information with overseas tax agencies in 2028.
5. How much cryptocurrency was stolen in the BitMart hack?
According to Bitquery, approximately USD 391,000 was drained from wallets primarily associated with BitMart. Founder Sheldon Xia confirmed the November 2 breach and said the exchange had strengthened its security measures.
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