Bangkok Post
FBI says North Korea behind $6 billion crypto theft from Binance
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NEW YORK - The FBI on Saturday accused North Korea of stealing more than $6 billion in virtual assets from the cryptocurrency exchange Binance in what is thought to be the biggest-ever crypto heist.
Key facts
- NEW YORK - The FBI on Saturday accused North Korea of stealing more than $6 billion in virtual assets from the cryptocurrency exchange Binance in what is thought to be the biggest-ever crypto heist.
- The US law enforcement agency's statement came as Binance offered reassurances it was covering the losses from the hacking attack, saying it has used company funds to buy tokens to replenish 90 percent of what was stolen.
- TraderTraitor is the same group blamed for a $1.5 billion theft from the Bybit platform in February last year.
- 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 in virtual assets from cryptocurrency exchange
- Binance said Saturday it has set aside more than $6.34 billion in company funds to cover losses in the hack.
- TraderTraitor is believed to be part of the Lazarus Group, which gained notoriety in 2014 when it was accused of hacking into Sony Pictures as revenge for "The Interview,"
Summary
The US law enforcement agency's statement came as Binance offered reassurances it was covering the losses from the hacking attack, saying it has used company funds to buy tokens to replenish 90 percent of what was stolen.
Binance is the world's largest crypto exchange by daily trading volumes. News of the cyberattack caused the prices of most major cryptocurrencies to fall sharply on Friday.