Some market observers suggest that an approximately $6.3 billion hack of Binance may temporarily deter project teams, venture capital firms and associated wallets from selling altcoins. TRM Labs and Chainalysis have each linked the attack to North Korea with high confidence. Binance has pledged to cover user losses using Binance's protection fund and company resources. Approximately $3 billion of the stolen assets have been located, and about half of those assets have been frozen through stablecoin issuers including Tether and Circle.