FBI accuses North Korea in Binance heist, largest crypto theft ever
The FBI has accused North Korea of orchestrating the attack on Binance, calling it the largest cryptocurrency theft in history. The agency stated that hackers are converting the stolen assets and are expected to pursue further money laundering steps. The FBI identified the perpetrators as TraderTraitor, a cybercriminal group sponsored by North Korea, which executed the heist in about 20 minutes. The hackers are converting stolen assets into Ethereum-based cryptocurrencies to complicate tracking, and the FBI has asked crypto firms to block transactions from the group's addresses. Binance said it has already covered 90% of the losses, with ten cryptocurrencies fully backed, and will use its own funds to fully reimburse clients. Brazilian customer investments remained safe in cold wallets, though withdrawals were temporarily suspended.