White House reviews Binance breach as calls grow for stricter crypto rules
CIE News ·
Confirmed by independent sources.
President Donald Trump confirmed that authorities are looking into the Binance breach, triggering renewed calls in Washington for stricter federal cryptocurrency regulations following the historic theft.
President Donald Trump stated that authorities are looking into the recent security incident at Binance. The breach has prompted renewed calls in Washington for stricter federal cryptocurrency regulations.
The investigation follows the unauthorized transfer of billions of dollars across multiple blockchains from Binance wallets on October 29. According to TRM Labs, the theft totaled approximately $6.36 billion and was carried out by the North Korea-linked hacking unit TraderTraitor. Binance stated that it suspended withdrawals on multiple networks as a precaution and attributed the compromise to a potential laptop intrusion rather than leaked private keys.
Binance confirmed that user funds are safe and that it set aside $6.34 billion to cover the losses, while working with blockchain partners and law enforcement to freeze roughly $3 billion in assets.
Key facts
- US authorities reviewing breach
- Calls for stricter regulation
- $6.36B stolen across 10 chains
- $3B in assets frozen
Read the original at trmlabs.com