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FBI says North Korea was behind $6.3 billion Binance heist, the biggest crypto hack in history
PBS • • general
Key Points:
- The FBI identified North Korean hackers, operating under the name TraderTraitor, as responsible for the $6.3 billion theft from Binance, marking the largest cryptocurrency heist in history.
- TraderTraitor was previously linked to a $1.5 billion hack on Bybit last year and is believed to be converting stolen assets primarily into ethereum, with plans to use decentralized finance (DeFi) and instant swap services to launder the funds.
- The FBI has urged crypto exchanges and blockchain analytics firms to block transactions associated with the stolen funds to prevent laundering and aid in recovery efforts.
- Binance stated it has reserves covering 90% of the stolen digital assets and assured customers they will be fully reimbursed.
- President Donald Trump expressed uncertainty about North Korea's involvement during a public appearance, indicating investigations were still ongoing.
