What to know

• Binance disclosed a record $6.3 billion hack attributed to North Korean group Tradertraitor and said it would cover ~90% of losses using corporate and insurance funds, with zero impact to users.
• Blockchain investigators identified unprecedented laundering techniques, including converting stablecoins to Ether to evade freeze controls—described as the largest crypto theft in history.
• Bitcoin recovered to $77,558 on Binance's commitment, but U.S. Bitcoin ETFs saw sharp outflows ($643M) as market confidence remains fragile amid broader crypto weakness.
• The FBI is coordinating the investigation; Binance plans to restore withdrawals by Sunday.

“attackers converted $325 million in stablecoins into $285 million in Ether, apparently seeking to move funds beyond the reach of issuer-controlled freezes”

Chainalysis, Blockchain intelligence firm · Investing.com ↗

Binance World's largest cryptocurrency exchange, hack victimNorth Korean hacking group Tradertraitor Perpetrator of the hackChainalysis Blockchain intelligence firmFBI U.S. federal law enforcement agencyTheodora Lee Joseph Finimize analyst