The FBI put a government name on the biggest crypto theft on record, and I read it as the moment this stops being only Binance's problem.
On October 31, the FBI said North Korea was responsible for the theft of more than $6 billion from Binance on or about October 29, naming the activity TraderTraitor. With the Secret Service and IRS Criminal Investigation, it said the actors are converting stolen assets primarily into ether, expecting further laundering through DeFi and instant-swap services.
The bureau published linked addresses and urged THORNode and RPC operators, instant exchanges, DeFi services and analytics firms to block linked transactions. Ether has no issuer to freeze it, unlike roughly $3 billion in stablecoins already frozen, so blocking depends on the services the funds pass through.
The tape looks steady: $BTC near $77,538 and $ETH near $2,255 on Binance spot. A block is not a recovery, and this alert is a request, not a court order — so the test is which service refuses a flagged transaction.
Not financial advice. DYOR.
$ETH #CryptoMarkets #BinanceHack #Ethereum #TraderTraitor
On October 31, the FBI said North Korea was responsible for the theft of more than $6 billion from Binance on or about October 29, naming the activity TraderTraitor. With the Secret Service and IRS Criminal Investigation, it said the actors are converting stolen assets primarily into ether, expecting further laundering through DeFi and instant-swap services.
The bureau published linked addresses and urged THORNode and RPC operators, instant exchanges, DeFi services and analytics firms to block linked transactions. Ether has no issuer to freeze it, unlike roughly $3 billion in stablecoins already frozen, so blocking depends on the services the funds pass through.
The tape looks steady: $BTC near $77,538 and $ETH near $2,255 on Binance spot. A block is not a recovery, and this alert is a request, not a court order — so the test is which service refuses a flagged transaction.
Not financial advice. DYOR.
$ETH #CryptoMarkets #BinanceHack #Ethereum #TraderTraitor