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SecurityQuiet 11d · day 11

CZ credits US authorities for containing $6B Binance hack fallout

Binance co-founder Changpeng Zhao praises FBI, Secret Service, and IRS for mitigating market impact after North Korean hackers stole over $6 billion.

newest coverage 10d agosummary written 10d ago2 pieces RedditNewswires

What to know

  • Binance lost $6+ billion to North Korean hacking group Tradertraitor; FBI, Secret Service, IRS tracked and froze stolen assets.
  • CZ credited US law enforcement with preventing worse market damage—bitcoin's multi-week low of $76,320 would have been deeper without agency intervention.
  • Wall Street consensus: the breach exposed gaps in Binance's security, not Bitcoin's underlying design; prices expected to recover within a week.
  • Trump administration confirmed investigation into the hack while acknowledging Binance's recovery plans.

“A tweet can't fully express our gratitude. Many crypto bros may not realize, a lot of the 'why bitcoin didn't drop more?' credit goes to them.”

Changpeng Zhao, Binance co-founder · Bitcoin News ↗

Changpeng Zhao (CZ) Binance co-founder and former CEOFBI Lead US law enforcement agencyTradertraitor North Korean hacking groupDonald TrumpDonald Trump US President

CZ credits US authorities for containing $6B Binance hack fallout
breakingthenews.net

How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts

Peak 1 piece in 3h at Oct 31, 10 PM; 2 pieces over 11 days (1 article · 1 post) Oct 31, 10 PM — 1 piece · 1 article — Newswires 1Nov 1, 1 AM — quietNov 1, 3 AM — quietNov 1, 6 AM — 1 piece · 1 post — Reddit 1Nov 1, 9 AM — quietNov 1, 12 PM — quietNov 1, 3 PM — quietNov 1, 6 PM — quietNov 1, 9 PM — quietNov 2, 12 AM — quietNov 2, 3 AM — quietNov 2, 6 AM — quietNov 2, 9 AM — quietNov 2, 12 PM — quietNov 2, 3 PM — quietNov 2, 6 PM — quietNov 2, 9 PM — quietNov 3, 12 AM — quietNov 3, 3 AM — quietNov 3, 6 AM — quietNov 3, 9 AM — quietNov 3, 12 PM — quietNov 3, 3 PM — quietNov 3, 6 PM — quietNov 3, 9 PM — quietNov 4, 12 AM — quietNov 4, 3 AM — quietNov 4, 6 AM — quietNov 4, 9 AM — quietNov 4, 12 PM — quietNov 4, 3 PM — quietNov 4, 6 PM — quietNov 4, 9 PM — quietNov 5, 12 AM — quietNov 5, 3 AM — quietNov 5, 6 AM — quietNov 5, 9 AM — quietNov 5, 12 PM — quietNov 5, 3 PM — quietNov 5, 6 PM — quietNov 5, 9 PM — quietNov 6, 12 AM — quietNov 6, 3 AM — quietNov 6, 6 AM — quietNov 6, 9 AM — quietNov 6, 12 PM — quietNov 6, 3 PM — quietNov 6, 6 PM — quietNov 6, 9 PM — quietNov 7, 12 AM — quietNov 7, 3 AM — quietNov 7, 6 AM — quietNov 7, 9 AM — quietNov 7, 12 PM — quietNov 7, 3 PM — quietNov 7, 6 PM — quietNov 7, 9 PM — quietNov 8, 12 AM — quietNov 8, 3 AM — quietNov 8, 6 AM — quietNov 8, 9 AM — quietNov 8, 12 PM — quietNov 8, 3 PM — quietNov 8, 6 PM — quietNov 8, 9 PM — quietNov 9, 12 AM — quietNov 9, 3 AM — quietNov 9, 6 AM — quietNov 9, 9 AM — quietNov 9, 12 PM — quietNov 9, 3 PM — quietNov 9, 6 PM — quietNov 9, 9 PM — quietYesterday, 12 AM — quietYesterday, 3 AM — quietYesterday, 6 AM — quietYesterday, 9 AM — quietYesterday, 12 PM — quietYesterday, 3 PM — quietYesterday, 6 PM — quietYesterday, 9 PM — quietToday, 12 AM — quietToday, 3 AM — quietToday, 6 AM — quietToday, 9 AM — quietToday, 12 PM — quietToday, 3 PM — quietToday, 6 PM — quiet 12
Nov 1Nov 2Nov 3Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9yesterdaynow · 9:51 PM ET
  1. 2

    Trump administration confirms investigation into Binance hack

    President Donald Trump said US officials were looking into Binance's $6.3 billion hack and acknowledged the exchange's recovery assurances.

  2. background

    Wall Street analysts: breach exposed Binance's security, not Bitcoin's design — Analysts from Cantor Fitzgerald and TD Cowen downplayed the hack's effect on bitcoin's long-term direction, arguing it revealed weaknesses in Binance's infrastructure rather than flaws in Bitcoin itself. Bitwise CIO Matt Hougan predicted prices would recover to prior levels within a week.

  3. background

    FBI attributes hack to North Korean group Tradertraitor; publishes stolen addresses — FBI formally attributed the Binance hack to North Korean hacking group Tradertraitor and published lists of ETH, BTC, and SOL addresses holding or previously holding stolen assets operated by or connected to the threat actors.

  4. 1

    CZ praises US law enforcement for mitigating hack impact

    Binance co-founder Changpeng Zhao credited FBI, Secret Service, IRS and other agencies with tracking, freezing stolen funds, and containing the hack's effect on cryptocurrency prices. Zhao stated that without agency involvement, bitcoin's price decline would have been worse.

    “US Law Enforcement agencies (FBI, USSS, IRS and more) provided vital help in this incident, including tracking, freezing, etc.”
    — Changpeng Zhao
    1. 1 outlet CZ Praises US Authorities for Halting $6B Binance Hack Fallout

      first by Bitcoin News, 10d ago

  5. background

    North Korean hackers steal $6B+ from Binance — Binance suffered a security breach with losses exceeding $6 billion attributed to North Korean hacking group Tradertraitor. Bitcoin dropped to a multi-week low of $76,320, triggering over $1.5 billion in liquidations.