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Binance covers 95 percent of $6.3B stolen in record crypto hack

Binance covers 95 percent of $6.3B stolen in record crypto hack

Stablecoin issuers froze approximately $3 billion of the affected funds after the breach, preventing hackers from moving or laundering those assets.

Binance also purchased various cryptocurrencies on the open market and published evidence of its recovery efforts based on cryptographically verified internal records and transactions recorded on the public blockchain.

The FBI and independent analysts have attributed the attack to TraderTraitor, a North Korean state-linked hacking group associated with previous major cryptocurrency thefts.

Cybersecurity firms Elliptic and Chainalysis said the attackers appeared to have transferred the stolen assets between multiple wallets through automated transactions, based on the speed and timing of the…

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