North Korea’s state-sponsored cyber-operations unit, aka Hidden Cobra
Binance has replenished the majority of stolen assets from a historic cyberattack. The company will cover the remaining losses with a combination of internal funds and insurance. Authorities are tracing funds as withdrawals resume in phases to restore user access.
Binance has reported an estimated $6.3 billion breach of its wallets and has frozen roughly $3 billion of the affected assets. The company has said it will cover customer losses, paused some withdrawals, and is working with law enforcement and blockchain firms. Analysts and US agencies have linked the attack to North Korea’s TraderTraitor unit.
The FBI has tied a week-long attack to TraderTraitor, linking the incident to a $6.3 billion Binance heist and a prior Bybit theft. Authorities urge exchanges to block related addresses; Binance is restoring withdrawals as it replenishes funds using SAFU reserves.