Over $2.7B of the crypto stolen from Binance is now frozen, and a US court just cleared the DOJ to seize or restrain $1.2B of it.
For $BNB holders, the order of events matters more than the headline.
The DOJ announced it Thursday, Nov 12, per The Block (22:40 UTC). It pins the late-October hack on North Korean military hackers it calls TraderTraitor and says tracing continues as funds move through bridges, mixers and exchanges.
Binance spoke first, at 16:54 UTC that day: coverage of affected assets is complete. It committed over $6.34B of company money, from part of SAFU, part of the Futures insurance fund and its treasury, and pledged to refill SAFU to about $1B.
So per Binance, users were covered before any seizure. The $1.2B is a recovery story, not a rescue.
What Binance told users: a new Proof of Reserves snapshot (Nov 12, 00:00 UTC, 198 tokens) is up, the full zero-knowledge proof takes about 40 to 50 hours, and withdrawals keep reopening in phases.
Bitcoin is down 3.62% at $68,933, Fear & Greed 20. BNB is at $637.7, down 2.26% in 24h and 8.47% over 7 days. I'm watching $622.4 and $660.2, the 24h range edges.
Today's data adds up to recovery news meeting a fearful market, with $BNB down less than Bitcoin but still red.
#BNB #Binance #DOJ #NorthKorea
For $BNB holders, the order of events matters more than the headline.
The DOJ announced it Thursday, Nov 12, per The Block (22:40 UTC). It pins the late-October hack on North Korean military hackers it calls TraderTraitor and says tracing continues as funds move through bridges, mixers and exchanges.
Binance spoke first, at 16:54 UTC that day: coverage of affected assets is complete. It committed over $6.34B of company money, from part of SAFU, part of the Futures insurance fund and its treasury, and pledged to refill SAFU to about $1B.
So per Binance, users were covered before any seizure. The $1.2B is a recovery story, not a rescue.
What Binance told users: a new Proof of Reserves snapshot (Nov 12, 00:00 UTC, 198 tokens) is up, the full zero-knowledge proof takes about 40 to 50 hours, and withdrawals keep reopening in phases.
Bitcoin is down 3.62% at $68,933, Fear & Greed 20. BNB is at $637.7, down 2.26% in 24h and 8.47% over 7 days. I'm watching $622.4 and $660.2, the 24h range edges.
Today's data adds up to recovery news meeting a fearful market, with $BNB down less than Bitcoin but still red.
#BNB #Binance #DOJ #NorthKorea