Trump Says US Looking at Whether Binance Hack Was By North Korea
President Donald Trump said the US was looking into whether North Korean hackers were behind a $6.3 billion heist targeting Binance that has rattled the cryptocurrency world.
President Donald Trump announced the US is investigating whether hackers from North Korea were responsible for a $6.3 billion theft targeting cryptocurrency exchange Binance. The attack has shaken the crypto world, with Binance suspending withdrawals while it investigates the breach. Chainalysis believes a North Korea-linked group was involved, though President Trump stated the US is still considering the possibility.
Binance's initial findings suggested the breach may have started with an engineer's hacked laptop, allowing an attacker to access the system and make unauthorized withdrawals. The exchange has frozen or located about $3 billion of the affected assets. Binance co-founder Yi He said withdrawals were expected to resume by Sunday. Binance, the world's largest crypto trading platform, pledged to cover all losses after the hack, the largest heist in the digital-asset industry.
The incident has raised concerns about the risks posed by hackers in the artificial intelligence age and marked a setback for an industry keen to expand its presence in traditional finance, benefiting from Trump's efforts to ease regulatory burdens.
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