Trump looks to blame North Korea for massive Binance hack
New York, New York - Cryptocurrency platform Binance said Friday it was working to resolve a "complex attack" that affected around $6.3 billion in funds, in what is thought to be the biggest ever crypto heist, with investigators and President Donald Trump pointing to hackers linked to North Korea.
Blockchain investigation firm TRM Labs said it had "high confidence" that the attack was orchestrated by a North Korea-affiliated group called TraderTraitor, the same group blamed for the $1.5 billion theft from the Bybit platform in February last year.
Another analytics firm, Elliptic, also attributed the attack to North Korea-linked hackers, according to industry outlet CoinDesk.
President Trump said Friday that the UUS was examining whether North Korean hackers were behind a major attack on cryptocurrency platform Binance.
"We're looking at that," Trump told reporters in the Oval Office when asked if it should be attributed to a North Korean hacker group. "It was a hack."
TraderTraitor is believed to be part of Lazarus Group, which gained notoriety in 2014 when it was accused of hacking into Sony Pictures as revenge for "The Interview," a film that mocked North Korean leader Kim Jong Un.
Binance, the world's largest crypto exchange by daily trading volumes, said investigations had "uncovered additional points of breach," contrary to initial findings that suggested the hack involved a single compromised laptop.
"This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it," Binance wrote on X.
The company confirmed on its X account for Latin America that "the total estimated impact is around $6.3 billion," four times the amount taken in the Bybit hack, the biggest cyberattack of its kind until now.
Binance warned the figure "may continue to increase as our teams work closely with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze additional assets."
It said around $3 billion in affected assets had been frozen.
Customers' account balances have not been touched, but they cannot move funds off the platform while withdrawals remain suspended.
Binance initially suspended all deposits and withdrawals but later said deposits were unaffected. At about 0900 GMT Friday, it said it was on track to resume withdrawals in 45 hours.
Cover photo: Collage: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA / AFP | TIERNEY L. CROSS / GETTY IMAGES NORTH AMERICA / GETTY IMAGES VIA AFP Photo by TIERNEY L. CROSS / GETTY IMAGES NORTH AMERICA



