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 says TraderTraitor has tied a new wave of crypto theft to malicious activity, with assets being converted primarily into Ethereum. Binance has begun reimbursing users for most losses, while investigators warn of ongoing laundering attempts. Trump has commented that North Korea involvement remains unconfirmed as the investigation advances.