Business & Finance · Crypto · 27 outlets (L 4 · C 11 · R 4 · 8 not rated)

FBI blames North Korea for $6.3 billion Binance crypto hack

The FBI said Saturday that North Korea was responsible for the theft of $6.3 billion in cryptocurrencies from Binance, which it described as the biggest crypto hack in history.^{⁠[21, 25, 39]} The bureau said the attack was tied to an entity known as TraderTraitor, the same actors behind a $1.5 billion Bybit hack last year.^{⁠[6, 21]} The FBI said it observed actors connected to the hack converting stolen tokens to Ethereum and preparing further laundering, and urged crypto firms to block wallet addresses tied to the theft.^{⁠[24, 42]}

The FBI said it worked with the U.S. Secret Service and the criminal arm of the Internal Revenue Service on the case.^⁠[39] President Trump said of the case, "I'm not concerned. We're learning about it," according to HuffPost.^⁠[1]

Binance has resumed withdrawals and says it has replaced roughly 95% of the stolen assets so far.^{⁠[27, 34, 38]} Investors pulled $3.6 billion from the exchange as withdrawals restarted, according to The Guardian and The New York Times.^{⁠[3, 5]}

Why it matters Binance has restarted customer withdrawals and says it will reimburse users whose assets were stolen.^⁠[34]

Covered by The New York Times, CBS News, The Wall Street Journal and 24 more

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