FBI and Secret Service Join Binance Investigation Into Massive $6.4B Crypto Theft
In a joint operation, the FBI, the U.S. Secret Service, and Binance launched an investigation to track the unprecedented hack of approximately $6.4 billion in digital assets. On-chain intelligence firms such as TRM Labs and Chainalysis attributed the attack to TraderTraitor, a cybercriminal group linked to North Korea that targeted hot wallets across multiple chains.
The magnitude of the cyberattack triggered an immediate containment response across the crypto industry. Stablecoin issuers such as Tether and Circle have already frozen hundreds of millions of dollars associated with the stolen funds to mitigate the impact on the global market.
Binance assured that it holds a reserve of more than $6.3 billion to cover user losses and plans to resume withdrawals gradually while federal agencies continue tracking the funds on-chain.
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