November 2nd, 2026: North Korea Linked to Massive Crypto Heist & Poland’s Political Crisis

A vacation rental shouldn't come with surprises. It should come with verbo care and 24/7 life support. If the hot tub's broken, that's a verbo care thing. If my teenager starts calling me Leslie. That's a family thing, Leslie. Verbo care and 24/7 life support. If you know, you verbo. Terms apply. See verbo.com/trust for details. It's Monday, the 2nd of November. Look at that a brand new month. Well, I hope that those of you in the U.S. had a most excellent Halloween. And of course, the U.S. mid-derm elections are tomorrow. So if you haven't already, be sure to vote. You know, the saying's true. You can't complain about the results if you don't participate. Welcome to the president's daily brief. I'm Mike Baker, your eyes and ears on the world stage. All right, let's get briefed. The first up North Korean hackers are suspected of pulling off the largest crypto currency heist in history, stealing a reported $6.3 billion worth of crypto from the company Binance in just a matter of minutes. Later in the show, Poland is facing a growing constitutional crisis after the suspension of the country's top constitutional court president sparked days of street protests and accusations of a coup. Plus, in tens of thousands of protesters flood the streets of Germany and demonstrations spanning 34 cities with the unrest turning violent in Frankfurt as rioters, loot businesses and clash with police while looting appears to be the professional sport now in Europe. And in today's back of the brief, Secretary of State Marco Rubio says there's growing international interest in a limited ceasefire between Russia and Ukraine. Well, that's nice, aimed at protecting commercial shipping in the Black Sea, which of course means nothing unless there's growing interest on Putin's part to bring an end to his almost five-year invasion. But first, today's PDB spotlight. North Korea has apparently pulled off the largest cryptocurrency heist in history, stealing more than $6 billion from the world's biggest crypto exchange, in an operation that reportedly took just minutes. The target was Binance, the cryptocurrency trading giant. Last Thursday, enormous amounts of digital currency began disappearing from the company's accounts. According to the New York Times, executives scrambled to assemble an emergency team of roughly 100 employees as billions of dollars vanished. Well, no offense, but you would think that that emergency team would have already been on standby and ready to go just for this type of attack. By the time the main attack was over, approximately $6.3 billion had been stolen, most of it in just 20 minutes. And according to the FBI, the thieves were working for North Korean leader and part-time crime boss Kim Jong-un. On Saturday, the Bureau formally attributed the attack to a North Korean state-sponsored hacking operation known as Trader Trater. Hmm, that's easy to say. It's the same group that American investigators blame for stealing $1.5 billion from another cryptocurrency exchange that would be buy-bit back in February of last year. But even that large-scale theft now looks relatively small compared with what happened at Binance. And this is hardly an isolated incident. According to blockchain intelligence firm TRM Labs, North Korean hackers have stolen an estimated 12.8 billion in cryptocurrency since 2017, carrying out roughly 100 separate attacks, 7.4 billion of that total has been stolen this year alone. For North Korea, these operations have become an important source of illicit revenue. Pyongyang remains subject to extensive international sanctions designed to restrict its access to foreign currency, financial markets, and the materials needed for its nuclear weapons and ballistic missile programs. But rather than relying exclusively on smuggling or other traditional methods of evading sanctions, the regimes developed a highly sophisticated cybercrime apparatus capable of stealing enormous sums from financial institutions around the world. And cryptocurrency theft is only one part of the operation. Just last month, the Justice Department announced a major crackdown on a network of North Korean operatives posing as legitimate remote technology workers at American companies. Federal agents searched more than 40 locations in Texas and seized approximately 187 computer devices used in the scheme. Investigators say the workers use stolen identities and American intermediaries to obtain jobs at U.S. companies with their earnings then ultimately flowing back to North Korea. The Justice Department says those operations help finance the regime's sanctioned weapons programs. Now, turning back to the Binance heist, there is reportedly, according to Binance, some good news for customers. The company says it's already replaced approximately 95 percent of the stolen cryptocurrency using its own financial reserves. Meanwhile, investigators and other cryptocurrency companies have managed to freeze billions in stolen assets. Of course, replacing the stolen money doesn't mean the thieves have been caught or that all the stolen funds have been recovered. The FBI says the North Korean hackers have already begun moving the cryptocurrency through a series of transactions designed to conceal its origins with additional laundering efforts expected. Alright, coming up next, Poland is facing a deepening political crisis and the weekend's mass protests across Germany turn violent, of course, with the requisite looting. I'll be right back. Hey, Mike Baker here with a very important message about watching out for, safeguarding and protecting your family's future. Now, it's not a pleasant thought, but it is an important one. If you're the provider for your family, what happens if you're no longer around? Look, things happen. Obviously, life can change quickly. You need to ensure that you can provide for your family even when you're gone. And that's why I want to talk to you about ethos, life insurance. That's ethos. E-T-H-O-S. What I like about ethos is just how simple they make the whole process. Everything is done 100% online. You can get a quote in seconds, you can apply in minutes, and potentially get same-day coverage. There's no medical exam, you just answer a few simple health questions online. 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The turmoil became so serious this weekend that Poland's president ordered his plane to turn around in mid-flight, abandoning an overseas trip, so he could return to Warsaw and personally into Vienna. And now, opposition leaders are discussing an effort to bring down the government. At the center of the controversy, it's Poland's constitutional tribunal, which serves a role broadly comparable to that of the U.S. Supreme Court in determining whether the country's laws comply with its constitution. On Friday, a judge on the tribunal announced the suspension of its president, that would be bogged in Schwieńskoffsky, and his deputy also for one month. The judge, Anna Korvin Piotrowska, then declared that she was assuming temporary control of the institution. But Schwieńskoffsky rejected the suspensions, maintaining that he remained the court's legitimate president. The tribunal's existing leadership and members of the conservative opposition described the move as a coup, and within hours the confrontation spilled into the streets. Times of demonstrators gathered outside the court in Warsaw, where riot police were deployed to secure the building. Protesters clashed with officers, some attempted to breach security barriers, and several people were detained. Then came an extraordinary intervention from Polish president, Carol Novrowski. Novrowski was traveling to Senegal, where news of the suspensions broke. He ordered his aircraft to turn around, returned to Warsaw, and headed directly to the courthouse. Several footage showed the president pushing past judges as he attempted to enter the building. Novrowski accused Prime Minister Donald Tusk's government of orchestrating what he called "a "forcible takeover of a constitutional body." He warned that Poland's internal security was at risk, and he summoned political leaders for emergency consultations. The confrontation is the latest chapter in a political struggle dating back more than a decade. Poland was governed by the National Conservative Law and Justice Party, commonly known by its Polish abbreviation PIS. During those years, the party introduced sweeping judicial changes and appointed allies to powerful positions within the court system. Critics, including European Union officials, accused the government of undermining judicial independence and turning the constitutional tribunal into a political instrument. Donald Tusk returned to power in 2012. 23, he promised to reverse those changes and restore the independence of Poland's courts. But his efforts repeatedly encountered resistance from presidents aligned with the conservative opposition. And that includes Novratsky, who was elected president last year, and has refused to recognize several judges appointed by the current parliamentary majority. Shofyanskowski, the court president suspended Friday, also refused to allow some of those judges to take their seats. The resulting standoff effectively paralyzed the institution. Now Tusk argues that Friday's suspensions were necessary to restore the rule of law and end years of political interference. In a nationally televised address on Saturday evening, the Prime Minister rejected accusations that his government was undermining democracy. Instead, he accused the opposition of obstructing judicial reform and declared that on certain issues, quote, "there can be no compromise." The legal questions surrounding the suspensions remain unresolved. While former presidents of the constitutional tribunal have defended the move, Poland's Helsinki Foundation for Human Rights has questioned its legal basis and warned that the confrontation could deepen the crisis. Meanwhile, the political fallout is spreading. A former Prime Minister has proposed a parliamentary vote of no confidence in Tusk's government, along with the creation of a caretaker administration that would oversee elections next year. For now, Tusk's coalition retains its parliamentary majority, making such a move unlikely. And the European Commission has also weighed in, defending Parliament's authority to appoint judges and urging Polish authorities to respect European legal standards. And US Ambassador Tom Rose has appealed for calm, warning that the confrontation could escalate into something far worse. All of this is, of course, unfolding inside what of America's most important NATO allies. Poland plays a central role in the Alliance's Eastern defenses and remains a critical logistical hub for military assistance flowing into neighboring Ukraine. A prolonged political crisis in Warsaw could introduce another source of uncertainty at a time when NATO is already confronting significant security challenges along its Eastern front. For now, Poland as a president and Prime Minister, accusing each other of threatening the country's democratic institutions, a constitutional court divided over its own leadership and opposition figures, openly discussing the replacement of the government. OK, turning to Germany, where the scenes echo the unrest that we've been tracking in France, smashed storefronts, small-top cocktails, and police under attack. Now, more than 100 officers were injured and German officials are demanding penalties for rioters accused of hijacking peaceful protests, while that sounds familiar. Let's start with what brought people into the streets. For tens of thousands of demonstrators across 34 German cities, the demands centered on the pressures of rising living costs, education, and healthcare. They wanted more support for those services, and they opposed compulsory military service. Behind the demonstrations was a campaign whose name roughly translates as "genz takes charge." The protest took place Saturday and overnight into Sunday alongside Halloween festivities while that's very festive, authorities said that they were largely peaceful. But late Saturday night in Frankfurt, hooded rioters, oh, here we go, attacked businesses following the demonstrations. Hesse's state interior minister laid out the damage at a Sunday news conference, 17 shops and stores damaged five of them looted. As those attacks unfolded, police urged people to get out of the city's center. Their warning read, quote, "violent disturbances are continuing. All type cocktails are also being thrown at the emergency services. We urge all bystanders to avoid the city center or to leave the area," end quote. Police deployed approximately 1,300 officers in Frankfurt, more than 100 were injured in the clashes, and 54 people were arrested, ranging in age from 13 to 29. There was trouble elsewhere, too. In Hamburg, some barricades were set on fire, but in Frankfurt, authorities were also assessing who had taken part in the violence. Hesse's interior minister said most of those arrested were German nationals. His assessment of the wider group involved, citing police information, was, quote, "police currently estimate that they are dealing with between 1,500 and 1,500 violent troublemakers predominantly from a migrant background," end quote. The federal government's response was blunt. The country's interior minister told the German newspaper bill, quote, "this breach of the peace must be followed by tough penalties." He accused, quote, "violent left-wing groups and troublemakers from the migrant community of hijacking the otherwise peaceful protests without elaborating." The government added that parts of Germany's far-left extremist scene, along with some groups linked to foreign extremist movements, had joined those efforts. But the protests, initially in particular, also included a broad mix of political and civil society groups. Initially expected 182,000 participants nationwide. Early police figures suggested a smaller turnout. In Frankfurt, Munich, and Berlin, police counted as many as 18,000 demonstrators, compared with roughly 36,000 claimed by organizers. For the campaign's spokeswoman, Alina Friedrich, the message was about fighting, quote, "for peace and freedom rather than for war and coercion." She also called for, quote, "a fairer distribution of the burden." That concern about who carries the burden has an economic backdrop. Germany, Europe's largest economy, has struggled to revive growth. As baby boomers retire and the working age population shrinks, pressure is building on pensions and public services. In 18-year-old at Munich Rally, put the frustration directly to Chancellor Friedrich Merch saying, quote, "we will continue to exercise our fundamental right to assemble until you stop ignoring us." Now, of course, that does not include the fundamental right to loot or burn buildings. These demonstrations are part of a wider wave of Gen Z-led protests across Europe this year, although the outcomes have obviously differed. In Serbia, student-led activism helped unseat the country's longtime leader at the ballot box. Now, there is a unique idea. For German officials confronting the violence in Frankfurt, though, France is the warning. You'll remember the unrest that we've been following there, extensive riding and looting of damaged shops, public and historic buildings and businesses. In Germany, the interior minister said, quote, "we all have those images from France in our minds, looting, burning houses, burning police vehicles, and attacks on police officers." And then came as warning, quote, "France must not be held up as a model in this regard," and quote, "yeah, that does seem like a reasonable statement." Alright, coming up in today's back of the brief, the U.S. is exploring a potential cease-fire between Russia and Ukraine, but only at sea as international mediators look for a way to protect commercial shipping. More on that when we come back. A mic baker here, with a scenario that might be all too familiar. Look, it's midnight, right? And there you are, Googling Roth conversions, whatever that is. You didn't work this hard to be doing this yourself, right? Maybe you already have a financial advisor, but come on, they show up perhaps once a year and usually because when you called them, meet Arca Wealth, that's Arca-A-R-C-A. 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Event contract trading involves risk and may not be suitable for all investors. Many products are not available in all jurisdictions, prices, values, and available markets may differ from those mentioned. For more information, see CalChi.com/regulatory. Discover top rated stays loved by guests rated highest by real guests through authentic reviews Verbo book of vacation rental loved by guests In today's back of the brief Washington continues to look for a path to peace in your grain But two days of G20 talks exposed familiar obstacles and also allies divided and also Russia Unyielding leaving even a limited potential ceasefire uncertain and realistically unlikely Now to give you an idea of how divided the G20 was They were already at odds over who should even be in the room for the meetings Russian foreign minister Sergei Lavrov was there. Oh, how about that But several European governments in Canada thought that he shouldn't be their concern was that welcoming Russia's top diplomat Risk normalizing the invasion of Ukraine European diplomats threatened to boycott or walk out of the traditional group photo Oh say it ain't so you're not gonna participate in the group photo So as a result secretary of state marker will be oh canceled the photo op Speaking to Reuters Canadian foreign minister, Anita Anand said she wouldn't have invited Lavrov either But she used his presence to confront him over Putin's ongoing war against Ukraine Now Rubio's position was relatively straightforward We indicated that if the goal is to end the war through diplomacy Washington has to speak to Russia as well as Ukraine Interestingly, but given the White House's latest actions not surprisingly Ukraine's foreign minister was not invited to the G20 Rubio said the US remained in frequent contact though with Kiev's leaders Now some governments were already concerned about Washington's approach As previously discussed on the PDB President Trump has waived fresh sanctions on Moscow Even as Russia intensifies its attacks And the rhetoric from the White House has appeared to blame Ukraine for the war With Trump even recently deriding Zelensky and suggesting Ukraine needs a new leader It is worth noting that well Russia is the invading party and Putin has never backed off of his maximalist demands So there's that But on Friday, Washington announced a step in support of Kiev, the State Department approved a proposed 2.1 billion dollar sale of Patriot air defense interceptors to Ukraine Still, Rubio offered no promises of a breakthrough He said, quote, "I don't know if negotiated peace is achievable in Ukraine" He continued, "That's what we're trying to find out here, but I don't think anyone is claiming that we're on the verge of a negotiated settlement" Now, Lavrov gave him little reason to suggest otherwise Speaking on Friday, Russia's foreign minister said Moscow's position had not changed Well, there's a surprise Russia would not accept Ukraine posing a "military threat" To legitimate security interests of the Russian Federation Once again, hmm, well, Russia is the invading party diplomat said Moscow was just as unyielding behind closed doors But Ukraine was only one of the issues dividing the G20 The meeting ended without a joint statement Rubio instead released a chairman's summary, outlining shared priorities, but no agreement on how to address them Poland's foreign minister offered a straightforward explanation, quote, "We have wars going on and we have participants in those wars around the table so it's very difficult to agree on a common line," end quote Even Warsaw's place at the table was a point of contention The country's foreign minister was attending as a guest representing his country for the first time at a G20 meeting Russia opposed Poland becoming a member, but then again, Russia opposes everything that isn't directly in Russia's own self-interest South Africa presented a different dispute, how many disputes did we have? It's already a G20 member, but the Trump administration did not invite it, despite objections from other governments Participants who spoke anonymously about the private talks said the divisions also extended to the US-Israeli war against Iran, American tariffs, and China's actions in the South China Sea As we know here at home, those disputes have contributed to higher fuel costs and uncertainty over trade The topic of Iran also brought a more immediate concern into the discussions The Associated Press reports the US officials had warned several Middle Eastern governments and regional allies to prepare for possible renewed American strikes against Iran after Tuesday's US midterm elections They were also told to prepare for potential Iranian retaliation And that prospect put countries in the region including G20 members Saudi Arabia on edge Rubio's argument was that these disagreements should not prevent cooperation wherever it remained possible He urged countries to work together on critical mineral supply chains and keeping major shipping routes open including the Strait of Hormuz and the Red, the Black, and South China seas At Saturday's closing news conference Rubio said, quote, "I would not pretend you today that we are close to finding universally accepted solutions to these problems," end quote And for that, we award Rubio today's PDB statement of the obvious award, well done Mr. Secretary Another issue at the G20, the Black Sea and current threats to commercial shipping Washington is reviewing proposals now from Turkey and India to halt attacks on shipping in the Black Sea Rubio described the goal this way, quote, "We'd like to achieve it. It doesn't solve the war, but at least it solves a unique aspect of it." But even here, the sides remain apart Canada's Anand told Reuters that Ukraine was fully engaged in the discussions Russia, though, had not shown a willingness to move forward Still, diplomats said participants agreed to keep working toward Trump's G20 leaders summit that's scheduled to be held in Florida this December Putin has not committed to attending that event However, Rubio left an open invitation to Ukrainian President Zelensky saying, quote, "If something positive could happen as a result of him attending" And that, my friends, is the president's daily brief from Monday the 2nd of November Now, if you have any questions or comments and I hope you do, just reach out to me at PDB at thefirsttv.com Of course, if you'd like an ad free PDB experience that is perfectly doable, just become a premium member of the president's daily brief by visiting PDBpremium.com I'm Mike Baker and I'll be back later today with the PDB afternoon bulletin. 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