The US Federal Bureau of Investigation (FBI) has accused North Korean officials of being behind a major hacking attack on cryptocurrency exchange Binance, which may have resulted in losses of $6.3 billion.
The FBI said that virtual assets worth more than $6 billion were stolen from Binance on or around October 29, and that North Korea was responsible for the attack. However, the US agency did not provide any evidence to support the allegation in its statement. US officials believe that the attack was orchestrated by a North Korean hacking group called TraderTraitor.
According to the FBI, hackers will primarily convert the stolen assets into the Ethereum cryptocurrency. The agency said, “These assets are expected to be laundered using DeFi and instant swap services to move them into further stages of laundering.”
To compensate for the losses caused by the attack, Binance has decided to allocate 50 per cent of the funds from its Secure Asset Fund for Users. The platform had earlier said that it had reimbursed 90 per cent of the amount stolen in the attack.
