Binance Pegs Hot-Wallet Losses at $6.3 Billion, Vows to Cover Them as TRM Points to North Korea
By Unchained
AI summary of the source article
Binance estimated its hot-wallet losses from a security incident at approximately $6.3 billion and pledged to cover all losses. TRM Labs attributed the theft across 10 networks to North Korea-linked TraderTraitor.
Key facts
- Binance estimates its total hot-wallet losses at about $6.3 billion and pledged to cover them using its SAFU fund and company funds.
- An initial investigation suggested the breach involved a compromised DevOps engineer's laptop, though Binance found no private key leak.
- TRM Labs attributed the attack to North Korean group TraderTraitor, counting about $6.36 billion drained across 10 networks.
Source excerpt · Unchained
The exchange says a compromised engineer's laptop may be to blame and expects withdrawals back within 48 hours; ZachXBT says the loot crossed paths with Bitget exploit funds at one address. The post Binance Pegs Hot-Wallet Losses at $6.3 Billion, Vows to Cover Them as TRM Points to North Korea appeared first on Unchained .