Binance freezes $3 billion and pledges to cover losses after $6 billion hack
Binance said it had frozen roughly $3 billion of assets and would reimburse all user losses after a breach that stole about $6. 3-$6. 36 billion, which a U. S.
blockchain-intelligence firm linked to North Korea’s TraderTraitor unit. The exchange earlier suspended deposits and withdrawals on multiple networks, froze more than $2. 5 billion and began cooperating with authorities, stablecoin issuers Circle and Tether and firms such as Phylax Systems to trace the outflow; on-chain analysis had shown $5. 57 billion moved from hot wallets, and the attacker used DeFi platforms like Uniswap and Aave to convert frozen stablecoins into Ethereum.