TRM and Chainalysis Tie $6.4B Binance Hack to North Korea's TraderTraitor

Blockchain intelligence firms TRM and Chainalysis have linked a massive hack on Binance to North Korea's TraderTraitor group. The group is also responsible for the Bybit hack. Binance reported that approximately $6.3 billion was impacted during the security breach. To ensure user protection and cover the resulting losses, Binance has officially set aside $6.34 billion of its own corporate funds. This event marks one of the largest cryptocurrency exchange hacks reported by intelligence firms.