Donald Trump · FBI · South Korea · North Korea · Federal Reserve (FED) · Bitcoin.com News
Trump Speaks on $6.3 billion Binance Hack as FBI Confirms North Korea
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President Donald Trump said U.S. officials were looking into Binance’s $6.3 billion hack and acknowledged the exchange’s recovery assurances.
Key facts
- The Federal Bureau of Investigation (FBI) is releasing information advising the Democratic People’s Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD
- An Oct. 31 update put replenishment at 90% with 10 cryptocurrencies, including BTC, ETH, and XRP, fully backed
- Binance’s recovery plan reserved more than $6.34 billion in company funds, excluding approximately $3 billion in frozen assets
- The full cryptographic proof was expected by Nov. 3, allowing holders of the 10 listed tokens to verify minimum 1:1 backing
Summary
Trump addressed the hack before the FBI attributed it to North Korea. North Korean actors converted stolen assets into ether, the bureau said. President Donald Trump said on Oct. 30 that U.S. officials were looking into the Binance hack and possible North Korean involvement. When asked about North Korean responsibility regarding the hack of Binance, Trump stated:.