Washington, Oct 31 (V7N)- US President Donald Trump has said his administration is investigating who was responsible for a security breach at Binance, the world’s largest cryptocurrency exchange, following a hack that resulted in the theft of approximately $6.3 billion in digital assets.
Trump made the remarks while speaking to reporters in the Oval Office on Friday, October 30. Asked whether North Korean hackers were behind the incident, he said the United States did not yet know and was looking into the matter.
Asked whether the stolen funds could be recovered, Trump said Binance had indicated that it would retrieve the money and had guaranteed its recovery.
He also expressed concern about the risks associated with digital transactions, comparing them with traditional banking methods in which money could be withdrawn through a signed cheque.
Meanwhile, US-based blockchain intelligence firm TRM Labs said a North Korean hacking unit known as TraderTraitor was likely responsible for the attack. The firm said its assessment was based on on-chain and off-chain intelligence, although the attribution has not been officially confirmed by the US government.
According to TRM Labs, approximately $6.36 billion was transferred from Binance wallets across 10 blockchain networks on October 29, making it the largest cryptocurrency theft recorded to date.
Binance has said it is working with law enforcement and industry partners to trace and recover the stolen assets. The company has also pledged to cover the losses, while cryptocurrency firms have helped freeze billions of dollars linked to the incident.
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