Overview
- Binance started limited, staged withdrawals on Sunday after a complex hack on Thursday moved roughly $6.3 billion from the exchange’s hot wallets.
- The FBI publicly attributed the attack to a North Korea–linked group called TraderTraitor and released about 500 Ethereum-network addresses for exchanges and service providers to block.
- Binance says it has set aside about $6.34 billion of corporate funds and has covered roughly 90–95% of the stolen value while preparing an updated public proof‑of‑reserves for users to verify.
- Partner firms and major token issuers froze roughly $2.5–3 billion of the stolen assets, with stablecoin issuers such as Tether and Circle blocking large sums that can be blacklisted off‑chain.
- Initial forensics point to a compromised engineer laptop as an entry point, investigations to trace and recover funds are ongoing, and regulators and exchanges face renewed scrutiny over custody, hot wallet controls and DeFi laundering risks.