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.
Binance has suspended withdrawals after a breach that drained $6.3 billion in digital assets in roughly 20 minutes. The exchange says it froze about $3 billion with partners, while research firm TRM Labs estimates $2.4 billion has moved beyond recovery. Binance pledged to cover all losses from reserve funds and is investigating with law enforcement.
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.