The FBI says the North Korea-linked TraderTraitor group is behind the October 29 hack on crypto exchange Binance, in which more than 6 billion dollars in...
The FBI says the North Korea-linked TraderTraitor group is behind the October 29 hack on crypto exchange Binance, in which more than 6 billion dollars in crypto assets were stolen, about 6.3 billion dollars in total.
Binance says users will not bear the loss: it will cover the damage from its SAFU emergency fund and company resources. The exchange also reports it has already covered 90 percent of the stolen funds, with major tokens including Bitcoin, Ethereum, USDT, BNB, Solana, USDC and XRP fully backed, and the remaining 10 percent in less liquid assets still being bought back through exchanges and over-the-counter deals.
If the FBI attribution holds, it would be one of the largest state-linked crypto thefts on record, and a test of whether even the biggest exchange can absorb a hit of this size without customers feeling it.
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