Binance recovers 90% of $6.3 billion stolen in cyberattack

newsbomb.gr (Greek) —

Binance has recovered 90% of the $6.3 billion stolen in a major cyberattack, using its own funds to repurchase tokens, the cryptocurrency exchange announced Saturday. The FBI attributes the hack to North Korean state-sponsored group TraderTraitor, which is reportedly laundering stolen funds through ethereum. The attack originated from an infected laptop with malware, prompting Binance to temporarily freeze withdrawals. The recovery was financed through the SAFU security fund, Futures Insurance Fund, and corporate reserves. Binance is implementing proof-of-reserves for its top 10 tokens, allowing users to verify full coverage of their funds.


With a significance score of 3, this news ranks in the top 9.5% of today's 31476 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: