Binance Replaces 90% of $6.3 Billion Stolen in Hack FBI Attributes to North Korea
Source Summary
Binance announced Saturday that it has replaced 90 percent of the $6.3 billion stolen in a record hack of its platform. The FBI attributed the attack to TraderTraitor, a North Korean state-sponsored unit.
Why it matters
The attribution to a state-sponsored North Korean unit elevates the hack from a criminal incident to a matter of national security and international concern, while Binance's replacement of most stolen funds demonstrates the exchange's financial capacity to absorb the loss.
