'No financial institution is immune from cyber attack': After the Binance hack, JEFF PRESTRIDGE shares stark warning from financial experts. Not everyone will get their money back if the worst happens - you must act now to protect your cash
Call me old-fashioned, but I've never fancied cryptocurrencies as an investment. Even less so after the hacking of crypto platform Binance late last week.
North Korea has denied allegations that it orchestrated a record $6.3 billion hack of the cryptocurrency exchange Binance. Kim Yo Jong, a top official and sister of leader Kim Jong Un, called the accusations "absurd rhetoric" and a "grave political provocation." According to Capital Business, KBC, and Business Insider, Kim characterized the claims as a sinister attempt by the United States to damage Pyongyang’s public image and mislead international opinion.
The FBI, the Secret Service, and cyber analysts have attributed the heist to a state-backed hacking group known as TraderTraitor, according to Capital Business, KBC, and DW English (Top Stories). CoinDesk reports that FBI alerts identified North Korean-controlled wallet addresses tied to the exploit. DW English (Top Stories) notes that TRM Labs linked the attack to the same group and reported that most of the funds were moved within 20 minutes.
Binance has stated it would cover the losses from the breach, as reported by Business Insider. The FBI has requested that industry partners assist in blocking transactions involving cryptocurrency accounts linked to TraderTraitor, according to Capital Business and KBC.
Brief written by urgent.news from CoinDesk, Capital Business, KBC, Business Insider, DW English (Top Stories) — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
