FBI links North Korea to $6.3 billion Binance crypto theft

thestar.com.my —

The FBI has attributed a cyberattack on cryptocurrency exchange Binance, involving an estimated US$6.3 billion in stolen digital assets, to North Korean hackers from the TraderTraitor group. This is believed to be the largest theft from a cryptocurrency exchange to date. The FBI stated it observed the hackers converting stolen assets primarily into Ethereum, expecting further laundering through decentralized finance and instant swap services. Binance said it has covered about 90 per cent of the stolen assets, absorbing the financial impact for its users, with the remaining 10 per cent in less liquid tokens taking longer to recover. Blockchain analysis firm TRM Labs had earlier linked the attack to the same group, noting the attackers moved most of the funds within 20 minutes to prevent freezing. The stolen assets included Bitcoin, Ethereum, and stablecoins like Tether and USD Coin.


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