North Korea linked to $6.4B Binance crypto hack

Following a $6.4 billion cryptocurrency hack of Binance, blockchain analytics firms have attributed the attack to North Korea, continuing a pattern of state-sponsored thefts that have netted billions. While issuers Tether and Circle successfully froze approximately $2.4 billion of the stolen funds by blacklisting stablecoins, the remainder was rapidly laundered through mixers and decentralized finance platforms. The author explains that North Korea relies heavily on these stolen crypto assets to fund state programs, including ballistic missile development, amidst heavy international sanctions. Open article →