FBI blames North Korea for stolen billions from Binance in biggest hack in history

Key Points:

• The FBI attributed the recent $6.3 billion theft from Binance, the largest crypto heist in history, to North Korean hackers operating under the alias TraderTraitor, who were also responsible for a $1.5 billion Bybit hack last year.
• The bureau urged crypto exchanges and blockchain analytics firms to block transactions linked to the stolen funds to prevent laundering, noting that the hackers are converting assets primarily into ethereum and may use DeFi and instant swap services next.
• President Donald Trump expressed uncertainty about North Korea's involvement during a public appearance, stating that investigations are ongoing and the attribution is not yet confirmed.
• Crypto experts anticipate the stolen assets will be laundered through smaller exchanges over time, describing the theft as a rapid "bank robbery" enabled by the internet, but also noting that tracking and recovery efforts are ongoing.
• Binance reported it has reserves covering 90% of the stolen digital currency and assured customers that they will be fully reimbursed for their losses.