Government Targets 460 New Homes In €70 Million Housing Initiative

by THEFUTURE.TEAM

November 4, 2026

Cyprus is preparing to build 460 homes on state-owned land through a partnership with private developers, in a project representing an investment of more than €70 million. President Nikos Christodoulides announced the plan at the General Assembly of the Association of Large Developments in Nicosia.

A Public-Private Response To Housing Pressures

Christodoulides said total investment in housing policy exceeds €300 million, describing access to affordable homes as a social priority—particularly for young people and families. Addressing the challenge, he said, will require more housing supply, effective use of public land and closer cooperation between government and the private sector.

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The government is also using planning incentives, including mechanisms tied to development density, to encourage residential construction and expand the supply of homes.

Promoting Cyprus To U.S. Investors

The president also said he plans to join a new delegation to the United States in late November to present investment opportunities in Cyprus. The meetings will take place in cooperation with the U.S. government, amid what he described as growing interest from American companies.

Streamlining The Business Environment

Christodoulides identified simpler procedures, digital services and faster permitting as priorities for improving the business environment. He also pointed to the Business Support Center, established to assist strategic development projects.

He linked the tax reform, which he said took effect on January 1, 2026, to efforts to strengthen the country’s competitiveness and create more favorable conditions for productive investment.

Growth With Broader Benefits

The president emphasized the importance of ongoing dialogue with the Association of Large Developments to address longstanding structural problems. He said development should be judged not only by the scale of investment, but also by the quality of jobs created and the benefits delivered to citizens.

He urged businesses to pursue opportunities with long-term planning and with respect for society and the environment—a message that places the housing initiative within a broader effort to balance economic growth with public benefit.

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Binance Details Months-Long Cyberattack Behind $6.34 Billion Crypto Theft

by THEFUTURE.TEAM

November 4, 2026

Binance has disclosed how attackers used fake software downloads, fraudulent job interviews and compromised internal tools to breach its wallet infrastructure in an October 29 cyberattack that resulted in the theft of more than $6 billion in digital assets.

The incident was not caused by a single employee mistake, Binance co-CEO Richard Teng told CNBC’s “Squawk on the Street”. Instead, attackers spent months building access before reaching the system responsible for authorising wallet transactions.

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“They spent months building their way in,” Teng said, describing a sequence involving a compromised developer tool, malware hidden in a coding exercise and access to internal AI systems.

How Attackers Reached Binance’s Wallet Infrastructure

According to Binance’s security report, the operation began in June when a Wallet DevOps engineer downloaded a modified Homebrew installation while searching online for a popular AI coding tool.

Binance detected suspicious activity, replaced the engineer’s device and rotated credentials. However, the company said the engineer’s role and the work of colleagues on the wallet infrastructure team had already been exposed.

In September, attackers allegedly posed as recruiters and interviewed another engineer. A coding exercise contained hidden malware designed to evade security controls, Teng said. The attackers subsequently moved through internal AI tools and gained access to the system authorising wallet transactions.

Teng did not directly attribute the attack to North Korea, but said the FBI had linked it to North Korean hackers associated with the TraderTraitor group.

Binance Recovers Most Affected Assets

Binance said it has replenished 98% of the $6.34 billion in affected assets and is working to acquire the remaining, less-liquid holdings. The exchange temporarily restricted certain withdrawals, committed to covering customer losses and used its reserves to restore affected funds.

The company and industry partners, including Tether, Circle and Ripple, have reportedly frozen around $3 billion in assets. However, some stolen funds continue to move through laundering channels.

Coinbase has also blocked transfers to compromised wallets and offered assistance to Binance.

Security Overhaul And Industry Confidence

Following the breach, Binance rebuilt the affected wallet system and internal AI tool, replaced compromised devices, revoked credentials and tokens associated with the engineers involved, and expanded security scans across employee devices.

The exchange has also commissioned an independent expert to review its response and security measures. Teng said Binance would continue strengthening its defences while working with law enforcement and industry partners to trace and freeze the stolen funds.

The incident has renewed questions about the security of centralised crypto exchanges. Although Binance maintains that it remains financially sound, attention is now focused on recovering the remaining assets and demonstrating that its security controls can withstand increasingly sophisticated attacks.

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