The week’s ten most important crypto stories from India and Asia, ranked by impact.

1. The FBI names North Korea’s TraderTraitor for the $6 billion-plus Binance theft and lists 628 addresses
The FBI said on Saturday that North Korean hackers it tracks as TraderTraitor carried out this week’s theft from Binance. It published 608 Ethereum, 19 bitcoin and one Solana address tied to the stolen funds and asked exchanges, node operators and DeFi services to block them. Our report: the FBI’s alert. Days earlier, on 28 Oct, the US Treasury sanctioned 10 people and one Russia-based entity over North Korean IT worker schemes, listing three Ethereum and five Tron addresses (the Treasury sanctions).
Why it matters: it puts a theft of more than $6 billion in the same file as Pyongyang’s earlier crypto heists, and gives Asian exchanges a list to screen deposits against.

2. India’s Enforcement Directorate searches Mudrex over alleged ₹4,600 crore in cross-border transfers
The ED searched three sites in Bengaluru and one in Madhya Pradesh on 27 Oct under the Foreign Exchange Management Act (FEMA), The Hindu reported, citing the agency’s 29 Oct release. The ED alleges that RPAS Technologies, which runs Mudrex and Saber.money, used stablecoins such as USDT to move money abroad without Reserve Bank of India authorisation. The Hindu, citing the release, put the unauthorised transfers and crypto balances on foreign platforms above ₹4,600 crore (about $484 million / €434 million); the agency’s post on X put the case at more than ₹5,000 crore ($527 million / €471 million), ThePrint reported. Mudrex told NDTV Profit it cooperated fully, believes its operations comply with the law, and that user funds remain secure.
Why it matters: it is the clearest sign yet that India’s agencies treat stablecoin remittances as a foreign-exchange question, not only a tax one.
Caveat: these are the ED’s allegations; no charge or finding has been announced.

3. Korea’s ruling party gives itself two weeks to decide on delaying the 22% crypto tax
The Democratic Party and the finance ministry failed to agree on 28 Oct on whether to postpone the tax due on 1 Jan 2027, Yonhap reported. After meeting exchanges including Dunamu and Bithumb on 30 Oct, Oh Ki-hyeong, the party’s secretary on the finance committee, said it would decide within one to two weeks, and that any delay bill must pass by the end of November, The Asia Business Daily reported.
Why it matters: gains above ₩2.5 million (about $1,872 / €1,676) a year face 22% tax in two months unless the law changes.
Caveat: no decision yet; the party and the government have now failed four times to agree.

4. Seoul’s regulators open an on-site inspection of Bithumb after a staff-system breach
The Financial Services Commission held an emergency meeting with Bithumb and other bodies on 28 Oct, and the FSC, the Financial Supervisory Service and the Financial Security Institute started an on-site inspection, the FSC said. Bithumb told regulators that data on staff at the exchange, its subsidiaries and partners leaked; whether user data leaked is still being checked. Our report: the Bithumb breach.
Why it matters: Korea’s second-largest exchange is now under direct inspection in a week of breaches across the country’s financial sector.

5. Thailand’s Supreme Court rules that bitcoin is property
In Judgment No. 4929/2569, the court upheld a 10-year sentence for a 2022 robbery on Koh Samui in which a victim was forced to send 2.480801 BTC. It said bitcoin “has a price and can be possessed” (translated), even though it is not legal tender. Our report: the Thai ruling.
Why it matters: victims of crypto theft in Thailand now have a top-court ruling that property-crime law covers their losses.

6. Westpac will cap payments to crypto exchanges at A$10,000 a month from 1 December
The limit, about $7,025 / €6,288, applies per customer to exchanges that the Australian bank has identified, Westpac says. It cites scam losses; withdrawals from exchanges back into Westpac accounts are not affected. Our report: Westpac’s limit.
Why it matters: another big Australian bank is using payment limits, not bans, to slow scam money.

7. Hong Kong approves 24/7 trading in two tokenised funds; BlackRock signs a yen stablecoin MoU with SBI
Hong Kong’s Securities and Futures Commission approved round-the-clock secondary trading of two ChinaAMC tokenised money market funds on a licensed crypto platform. In Tokyo, BlackRock signed a memorandum of understanding with SBI Holdings and Startale to explore linking tokenised money market funds with JPYSC, Startale said. Our report: BlackRock and Hong Kong.
Why it matters: tokenised cash funds are moving from pilots to regulated trading in Asia’s two main financial centres.
Caveat: the BlackRock deal is a study; no product, size or launch date was given.

8. India: CoinDCX puts futures in reduce-only mode after the Binance incident
CoinDCX said on 30 Oct that futures were in reduce-only mode, meaning traders could close but not open positions, citing developments at a global liquidity provider; a spokesperson identified it as Binance, CoinDesk reported. Most futures markets reopened the same day, but SOPH, ERA, GTC and LA stayed reduce-only in INR and USDT pairs, CoinDCX said.
Why it matters: it showed how much Indian derivatives liquidity leans on one offshore exchange.

9. India: Bharat Web3 Association sets up a self-regulatory body
The industry group launched a self-regulatory body for India’s virtual digital asset (VDA) sector on 28 Oct, chaired by retired civil servant Rohit Kumar Singh, Moneycontrol reported. It will issue voluntary guidelines and review members’ compliance, including anti-money laundering controls, but does not replace statutory regulators.
Why it matters: Parliament’s finance committee suggested in July that crypto could be supervised through recognised self-regulatory bodies; this one is a bid to be ready.
Caveat: its rules bind only members, and it cannot penalise.

10. Tokyo-listed Iole will sell all 151.21 BTC to fund AI data centres
Iole (TSE Growth: 2334) will sell its bitcoin between 30 Oct and the end of November, expecting about ¥1,831 million ($11.6 million / €10.4 million) and a loss of about ¥254 million ($1.6 million / €1.4 million), its disclosure says. It will keep its HYPE tokens. Our report: Iole’s sale.
Why it matters: a Japanese bitcoin-treasury company is leaving the trade at a loss.

Conversions use ECB reference rates for 30 Oct 2026.

Next week in Asia

  • Mon 2 Nov: Binance has said it will publish proof-of-reserves results after the theft.
  • Tue 3 Nov, 09:00 IST / 14:30 AEDT (04:30 CET): Reserve Bank of Australia decision. Japan is on holiday for Culture Day.
  • By about 13 Nov: Korea’s Democratic Party says it will decide on the crypto tax delay; the finance committee’s tax subcommittee meets in November.
  • To 30 Nov: Iole’s bitcoin sale window.

Related: Last Sunday’s Asia Ten

This article is for information only and is not investment advice.