FBI blames North Korea for $6 billion Binance crypto hack
Binance has said it will cover about 90% of the loss and plans to restore withdrawals, making progress on a pledge to fully reimburse customers.
The FBI has blamed North Korea for orchestrating a massive $6 billion cryptocurrency heist targeting Binance. In a coordinated cyber attack, the hackers, known as TraderTraitor, successfully siphoned off significant amounts of digital assets, with the majority being converted into Ethereum. According to a statement released by the FBI, these stolen funds are then subjected to further laundering processes through decentralized finance (DeFi) and instant swap services, with the ultimate goal of making them harder to trace and recover.
As part of their response, Binance has reportedly recovered around 90% of the stolen funds, and is now working towards restoring customer withdrawals by the upcoming Sunday. This progress marks a significant milestone in the ongoing efforts to fulfill the company's commitment to fully reimburse all affected users.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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