FBI blames North Korea for stolen billions from Binance in biggest hack in history - Washington Times
The FBI has attributed the theft of billions of dollars from Binance, the biggest crypto heist in history, to North Korean hackers known as TraderTraitor.
The theft of billions of dollars from Binance within minutes was orchestrated by North Korean hackers, the FBI announced Saturday. The bureau linked this week's attack to the same actors behind a $1.5 billion Bybit hack last year, identifying them as the entity known as TraderTraitor.
The FBI has asked crypto exchanges and blockchain analytics companies to block transactions linked to various addresses to prevent the laundering of the stolen funds. The investigation found that the hackers were converting the stolen assets primarily into ethereum.
Trump questions attribution
President Donald Trump, appearing at a Halloween party in Florida, expressed uncertainty about North Korea's involvement. "I'm not concerned. We're learning about it," Trump said. "We don't know if it's North Korea."
Recovery efforts
Crypto expert Ari Redbord expects the hackers will break the stolen assets into pieces and attempt to launder them through smaller exchanges over months. "It's bank robbery, in this case, at the speed of the Internet," he said.
However, we can also track and trace those funds in real time in order to build investigations, to disrupt and to seize back funds.
Binance announced it had enough reserves to cover 90% of the missing assets and promised customers would be fully reimbursed for the $6.3 billion stolen in Thursday's hack.
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