Binance hack sparks race to recover more than $6 billion before funds are laundered
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More than $6 billion in cryptocurrency was stolen from Binance. TRM Labs and Chainalysis attribute the attack to North Korea’s state-backed TraderTraitor group, which experts say is trying to off-ramp the crypto to fiat via obfuscation and global laundering—a race investigators call a cat-and-mouse game. Circle and Tether froze stolen stablecoins; Binance estimates about $3 billion has been frozen and pledged to cover user losses from its Secure Asset Fund for Users.
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