Binance hack traps $6.3 billion as firms freeze roughly half
What's new: Investigators linked the theft to a North Korean hacking group, while about $3 billion remains on the move.
Binance is scrambling to recover about $6.3 billion in crypto after what researchers and the exchange describe as the biggest hack in the industry's history. The company said it has frozen or begun recovering part of the stolen assets, with roughly $3 billion blocked so far after issuers including Tether and Circle moved to freeze funds. Investigators at TRM Labs and Chainalysis attributed the attack to TraderTraitor, a North Korean state-backed hacking group. Analysts told CNBC the hackers quickly shifted assets and used new laundering patterns to make seizures harder. Bitcoin fell about 4% Friday, a smaller drop than in past exchange breaches, as Binance pledged to cover losses through its Secure Asset Fund for Users.