Binance has resumed withdrawals after the biggest crypto hack on record, the Wall Street Journal reports, and is replacing its chief financial officer. North Korean hackers are reported to be laundering the stolen funds; Pyongyang denies the FBI's attribution.
Binance is the world's largest cryptocurrency exchange. Hackers linked to North Korea have repeatedly targeted crypto platforms to raise funds, and TraderTraitor is the name blockchain analysts give to one of the state's elite hacking units.
The Wall Street Journal reports that Binance has resumed withdrawals after the biggest crypto hack on record. Handelsblatt reports that the exchange is replacing its chief financial officer, and Nikkei Asia says the hack clouds Singapore's push for tokenized stocks.
Binance said finance chief Kaiser Ng is leaving and named Justin Yek as new CFO, according to Reuters and Bloomberg. The Wall Street Journal and others report that North Korean hackers are laundering the $6.3bn stolen in the Binance hack through shadowy crypto services.
Reuters reports that North Korea's army of hackers was the secret weapon behind the theft from Binance, which Le Monde calls historic. Bloomberg reports that the hackers paid $15 to drain $2.5 billion from the exchange in one hit.
North Korea fired multiple missiles on Wednesday in its fourth weapons launch in a month, Seoul says. Kim Yo Jong refused dialogue with the US and denied responsibility for the theft of more than $6bn in crypto assets, which US authorities blame on a hacker group linked to Pyongyang.
Binance says the record $6.3bn heist grew out of tampered software and fake job interviews months earlier. North Korea rejects the FBI's attribution.
Customers pulled billions of dollars from Binance after a hack the Guardian puts at $6.3bn, while FAZ reports outflows of $3.6bn and says the exchange has resumed payouts. FAZ calls it the largest hack in crypto history and links it to a North Korean programme to fund its armed forces.
An analysis by GMO Internet Group found that a North Korea-linked hacking group was likely behind last month's cyberattack on the company, according to sources close to the matter cited by the South China Morning Post. Politika reports that malware, IP addresses and digital traces point to the link and that data of millions of users in Japan was put at risk.
Binance resumed withdrawals in phases on Sunday, and customers pulled a net $3.64bn, 2.1% of assets. The exchange lost $6.3bn in a theft the FBI attributes to North Korea's TraderTraitor group.
The FBI attributes the record $6.3bn Binance theft to North Korea's TraderTraitor unit. Binance says it has replaced 90% of the stolen assets.
Hackers drained about $6.3bn from Binance, the world's largest crypto exchange, in what analysts call the biggest crypto heist ever. TRM Labs attributes the attack to North Korea's TraderTraitor unit.