Bitcoin falls 4% after $6.3 billion Binance hack tied to North Korea
What's new: About $3 billion in stolen crypto has been frozen, while investigators race to stop the rest from being laundered.
Bitcoin slipped about 4% Friday to roughly $77,065 after Binance disclosed a record $6.3 billion exploit, though the token held up better than in past exchange hacks. TRM Labs and Chainalysis linked the breach to TraderTraitor, a North Korean state-backed hacking group. Binance said it would cover losses through its Secure Asset Fund for Users, and Tether, Circle and other firms froze about $3 billion in stolen assets. Investigators told CNBC the recovery effort has become a race against time as hackers use new laundering patterns, sell stablecoins and borrow ether to move funds beyond the reach of freezes.