Important update on the October 29 incident.
The U.S. Department of Justice has obtained a court order to seize/freeze more than $1.2 billion in cryptocurrency stolen in the attack on Binance. This is part of more than $2.7 billion in funds already frozen/intercepted.
Key facts to remember:
The attack has been attributed to the North Korean group TraderTraitor
The amount stolen was approximately $6–6.4 billion (the largest in crypto history)
Binance promptly covered all user losses using its own funds and reserves
Withdrawals resumed in phases, and the platform continued operating as usual
The DOJ notes that, together with its partners, it managed to stop approximately half of the stolen funds before they moved further along the chain. Efforts to track and block the remaining assets are ongoing.
For users, this is a sign that even in the face of an attack on this scale, Binance met its obligations to customers and maintained operations.
We’re monitoring further regulatory actions and updates on the recovery of funds.
#crypto #Hack
The U.S. Department of Justice has obtained a court order to seize/freeze more than $1.2 billion in cryptocurrency stolen in the attack on Binance. This is part of more than $2.7 billion in funds already frozen/intercepted.
Key facts to remember:
The attack has been attributed to the North Korean group TraderTraitor
The amount stolen was approximately $6–6.4 billion (the largest in crypto history)
Binance promptly covered all user losses using its own funds and reserves
Withdrawals resumed in phases, and the platform continued operating as usual
The DOJ notes that, together with its partners, it managed to stop approximately half of the stolen funds before they moved further along the chain. Efforts to track and block the remaining assets are ongoing.
For users, this is a sign that even in the face of an attack on this scale, Binance met its obligations to customers and maintained operations.
We’re monitoring further regulatory actions and updates on the recovery of funds.
#crypto #Hack