FBI links Binance hack to North Korean group TraderTraitor
The FBI has attributed the massive Binance hack to North Korea, identifying the criminal group TraderTraitor as responsible for stealing $6.3 billion in cryptocurrency, the largest theft of its kind ever recorded. The attack occurred on Thursday, October 29, and Binance has already covered 90% of the stolen funds using its Safu reserve and company assets. The exchange confirmed it will cover up to 100% of losses, ensuring clients can resume withdrawals starting Sunday, November 1. The remaining 10% consists of less liquid tokens outside the top ten cryptocurrencies, which Binance will purchase through market and over-the-counter channels, though this may take more time. The company stated all major assets are fully backed and users will not bear the financial impact.