North Korean Hackers Stole $6.3B from Binance
The crypto world is reeling after hackers drained $6.3 billion from Binance, with the FBI confirming the North Korean group TraderTraitor is behind the hit. Despite Binance injecting its own funds to cover losses, users still pulled a net $3.6 billion.
, The crypto community is stunned following a massive heist where hackers drained $6.3 billion from Binance on Thursday.
The FBI confirmed on Saturday that the notorious North Korean group TraderTraitor was responsible for the cyberattack, which saw the vast majority of the stolen funds vanish in just about 20 minutes.
Binance managed to push back by replacing 95% of the stolen coins using its own capital after reopening withdrawals on Sunday.
However, despite the efforts to recoup losses, users still pulled out a net total of $3.6 billion in under ten hours.
Elliptic noted that the laundering operations used by the group appear to run on autopilot.
Binance is set to show proof of its reserves this Tuesday to explain the chaos.
TopicsBinance
Source: x.com
Written by Paparazzi with AI. Not financial advice.