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US Probes Possible North Korean Link to $6.3 Billion Binance Hack, Trump Says
Trump says US is looking into whether North Korean hackers were behind the $6.3 billion Binance heist.
Key points
- Binance suspended withdrawals and pledged to cover all losses after the hack.
- About $3 billion of the assets had been frozen on blockchain networks, Binance posted on X.
- Western governments have accused North Korea of using hacking groups to fund weapons programs.
Why it matters. The hack marked a setback for an industry keen to expand into traditional finance, which has benefited from Trump's push to ease regulatory burdens.
Trump told reporters Friday in the Oval Office that he did not know whether North Korean hackers were behind a $6.3 billion heist at Binance. Binance suspended withdrawals and pledged to cover all losses, with about $3 billion of the assets frozen on blockchain networks. Co-founder Yi He said withdrawals were expected to resume by Sunday.
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US Probes Possible North Korean Link to $6.3 Billion Binance Hack, Trump Says
US President Donald Trump said Washington was looking into whether North Korean hackers were behind a $6.3 billion heist targeting Binance. Speaking to reporters in the Oval Office on Friday, Trump said, "We don't know. We're looking at that." The theft has rattled the cryptocurrency world, according to the report. Binance said about $3 billion of the stolen assets had been frozen. The attack is described as a record cryptocurrency theft.