Binance heist and North Korea denial
North Korea called allegations that it was behind the Binance heist a "fabrication"/"absurd rhetoric." Crypto Twitter is skeptical, noting no BNB was drained, and exploits keep stacking up.
What we know
First Squawk relays KCNA's dismissal. Several accounts on X question the narrative given zero BNB was stolen. An account on X cites further hacks of Mercado Bitcoin ($40M) and an EU exchange ($106M). Solflare is locking down its infrastructure, and Ansem's Market Bubble ep.25 covers the hack.
How the story developed
North Korea called allegations that it was behind the Binance heist a "fabrication"/"absurd rhetoric." Crypto Twitter is skeptical, noting no BNB was drained, and exploits keep stacking up.
Posts claim US agencies attributed a Binance-related hack to North Korea, while CZ warns of fake screenshots and conspiracy theories spread about Binance and USD1. The tweets do not confirm the underlying details.
The FBI attributes the Binance hack to North Korea's TraderTraitor group and asks DeFi platforms to block related funds; Trump says the U.S. would engage Pyongyang if involved.
Chainalysis is tracking Binance exploiters who park stablecoins in DeFi protocols and reclaim them on clean addresses to evade freezes. Traders note the market reaction to frozen withdrawals and a roughly $6B hole is surprisingly calm.
Binance suffered the largest crypto exchange hack in USD history at $6.3B. The exchange has reserved $6.34B (including SAFU fund + company reserves) to make customers whole, with FBI and Secret Service tracing $3.3B still unrecovered. Bitcoin showed surprising resilience, dropping only ~5% while equities cratered.
The largest crypto hack in history is being covered by Binance's own reserves ($6.34B set aside), with FBI and US Secret Service now involved. Chainalysis has flagged entirely novel automated laundering patterns obscuring the stolen funds.
Sources
“Solflare is in bunker mode.”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.