Fed and OCC Probe Bank Security After Binance’s $6.3B Hack: Report

The Federal Reserve and Office of the Comptroller of the Currency (OCC) have contacted US banks following a $6.3 billion Binance hack. Regulators are investigating suspicious activity, cybersecurity vulnerabilities, and service disruptions. This probe follows the October 29 theft, which investigators attributed to North Korean hackers, specifically the TraderTraitor unit. Supervisors are seeking detailed information from financial institutions to assess potential systemic risks and security gaps resulting from the massive cryptocurrency theft linked to North Korea.