President Trump says $6.3 billion Binance hack is under review — The Hill

US President Donald Trump said his administration is reviewing the $6.3 billion hack of the cryptocurrency exchange Binance. Answering a question in the Oval Office about the possible involvement of a North Korean group, he said the United States does not yet know this but is studying the situation, The Hill reports.

The North Korean hackers theory

Analytics firms TRM Labs and Chainalysis believe that the cybercriminal group TraderTraitor, linked to North Korea, may be behind the attack. TRM Labs noted that several aspects of the Binance hack match previous incidents linked to North Korea, including the $1.5 billion hack of the Bybit crypto exchange last year.

According to TRM Labs, funds began moving from Binance wallets on Thursday afternoon. Transfers were made through the XRP Ledger, Ethereum, Bitcoin, Tron, Solana and other blockchains; a significant share of the transactions took place within 20 minutes.

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Binance's response

Binance suspended deposits and withdrawals after the incident. Crypto companies also froze about $3 billion in assets linked to the hack. Binance said it would cover all losses related to the incident.

Binance co-CEO Richard Teng, in a video published on X, thanked partners for promptly freezing assets and said the company was cooperating with law enforcement agencies. He also assured users that the exchange was working to resolve the situation and compensate for losses.