Federal authorities connected the late October incident directly to the TradeTraitor threat campaign, alleging the operatives primarily moved the stolen funds into Ethereum. Investigators anticipate the perpetrators will leverage decentralized finance protocols and instant conversion platforms to effectively launder the capital across the blockchain ecosystem. Meanwhile, Binance confirmed it has already replaced around 90% of the affected digital tokens out of pocket to protect user balances from direct financial harm.
Key points
North Korean leadership vehemently dismissed American allegations regarding the multibill…: North Korean leadership vehemently dismissed American allegations regarding the multibillion-dollar security breach.
United States officials have instructed crypto exchanges and blockchain providers to blac…: United States officials have instructed crypto exchanges and blockchain providers to blacklist addresses linked to the incident.
Binance has committed to completely absorbing all user losses stemming from the record-br…: Binance has committed to completely absorbing all user losses stemming from the record-breaking network intrusion.
Sources checked by our analysis pipeline: 1
North Korea rejected US claims that it was behind the theft of more than $6 billion in cryptocurrency from Binance, after the FBI blamed Pyongyang for the biggest crypto heist on record.
The US assertion that North Korea is responsible for the Binance attack is “absurd rhetoric and nothing new,” Kim Yo Jong, the sister of North Korean leader Kim Jong Un, said in a statement carried by the official Korean Central News Agency Tuesday.
“It is a grave political provocation against the DPRK that the US misleads the international public opinion as if all the cyber crimes in different parts of the world are our deeds,” the statement said, referring to North Korea by its official name.
The rebuttal came after the FBI said Saturday that North Korea was behind the theft of more than $6 billion in virtual assets from Binance on or around Oct. 29. The agency identified the operation as being linked to TradeTraitor, a North Korea hacking campaign previously linked to cryptocurrency thefts.
The FBI said it has observed the hackers converting stolen assets primarily…
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