Binance Working with FBI To Recover Assets after $6.3B Hack
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Article Content:
US agencies, including the FBI and US Secret Service, are investigating Binance's $6.3 billion hack and assisting in tracing stolen assets. Binance has frozen approximately $3 billion.
Update (Oct. 30 at 9:04 pm UTC):
This article has been updated to include statements from Reuters and Bloomberg regarding FBI and US Secret Service involvement, as well as Binance's latest recovery and withdrawal plans.
The FBI and Secret Service publicly confirmed their participation in the response to the Binance hack, working with government and industry partners to assess the incident's scope and recover stolen funds.
Binance confirmed its cooperation with law enforcement without specifying agencies. They have reserved over $6.34 billion in company funds to cover losses, with $5 billion already in affected cryptocurrencies. A spokesperson told Cointelegraph these tokens are in Binance's custody, declining to disclose wallet addresses for security reasons.
Blockchain intelligence firm TRM Labs attributed the attack to North Korea's TraderTraitor group.
Withdrawals remain suspended. Binance plans to begin reopening them in stages starting Sunday, with proof-of-reserves results expected Monday.
Binance is the largest cryptocurrency exchange by reserves, holding $134 billion in total assets. DefiLlama reports approximately $6 billion in outflows over the past 24 hours.
In February 2022, the US Department of Justice reported law enforcement agencies, including the FBI, seized 94,000 Bitcoin (BTC), valued at $3.6 billion, linked to the 2016 Bitfinex exchange hack.
Related:
- THORChain’s RUNE jumps 13% after Binance’s record $6.3B hack
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