The US President’s remarks came after the Federal Bureau of Investigation (FBI) formally blamed North Korea for a multi-billion dollar cryptocurrency attack.
FBI Accuses North Korea, Trump Still Not Saying Definitive Word
In an official statement released on October 31, the FBI reported that North Korea was responsible for the theft of more than $6 billion in cryptocurrency from Binance on October 29.
The organization announced that the attack was carried out by a North Korean-linked hacker group known as TraderTraitor.
The FBI also stated that the attackers primarily converted the stolen cryptocurrencies into Ethereum ($ETH) and may attempt to launder them through decentralized finance (DeFi) platforms.
As part of efforts conducted jointly by the U.S. Secret Service and the U.S. Internal Revenue Service’s Criminal Investigations Unit, cryptocurrency companies were asked to block transactions from wallets linked to the attackers.
On the other hand, Binance has launched a comprehensive recovery process to compensate users for their losses following the cyberattack.
In its latest security update released on November 1st, the exchange announced that 95% of the cryptocurrency assets affected by the attack had been replaced using company resources.
It has been announced that reserves have been fully met for the 10 major cryptocurrencies, including Bitcoin (BTC), Ethereum ($ETH), BNB, Solana (SOL), XRP, and various stablecoins.
Binance also stated that it will gradually resume withdrawals, which it had temporarily suspended, and that other blockchain networks will be made available as security checks are completed.
*This is not investment advice.
Leave a Reply