North Korea responsible for $6 billion Binance cryptocurrency hack, FBI says

Federal investigators have pinned the theft of more than $6 billion from the Binance exchange on North Korea, the first official U. S. confirmation of Pyongyang's role after private security researchers reached similar conclusions earlier. The FBI said Saturday that a state-linked group it calls TraderTraitor carried out Thursday's heist. Working with the Secret Service and IRS Criminal Investigation, the bureau saw the thieves turning the loot mostly into Ethereum. Officials anticipate the funds will next be pushed through decentralized finance platforms and instant swap services, and they asked exchanges, blockchain analytics firms and similar providers to refuse transactions tied to wallet addresses connected to the theft, according to Fox Business.

President Donald Trump, speaking to reporters Saturday, said the administration was still collecting information and did not yet know whether North Korea was behind it. He said he was not worried and would raise the matter with the North Koreans if they were responsible.

Binance, which disclosed a loss of about $6. 3 billion, said it has already restored roughly 90 percent of it, around $6 billion, and that the company rather than its customers will bear the cost.

Summarized by PolitiKool from Fox Business’s reporting. Read the full story at Fox Business →