GoKawiil
Tech News
Security firms and law enforcement are attempting to trace and recover more than $6.3 billion in cryptocurrency stolen from Binance, with TRM Labs and Chainalysis attributing the breach to North Korean hacking group TraderTraitor. Binance says it will cover user losses through its Secure Asset Fund for Users, while stablecoin issuers Circle and Tether have frozen roughly $3 billion of the stolen funds.
Blockchain intelligence firms TRM Labs and Chainalysis say the North Korean hacking unit TraderTraitor was likely responsible for an attack that moved roughly $6.3 billion out of Binance wallets across ten blockchains, much of it within about 20 minutes. Binance says it froze about $3 billion of the affected assets with partners, suspended withdrawals, and is beginning to restore funds to users while promising to cover all losses.
Cryptocurrency exchange Bitget said hackers stole more than $351 million from its hot wallets in a Thursday cyberattack, making it the largest crypto theft of the year. The exchange has suspended withdrawals and said its $464 million user protection fund should cover losses, though CEO Gracy Chen did not give a timeline for restoring withdrawals.