In a recent statement, North Korea has denied any connection to the $6.3 billion hack of Binance, a leading cryptocurrency exchange. Following the breach, Binance has mainly concentrated on the technical aspects of the incident and its measures to safeguard its users.
Binance’s Response to the Hack
A spokesperson for Binance revealed that since the resumption of transactions on Sunday, a total of $4.72 billion has been withdrawn from the exchange. However, this outflow is described as a “relatively limited portion” of Binance’s overall assets, which are estimated to be around $157 billion. This figure indicates the impact of the hack, the subsequent withdrawals, and market fluctuations.
The spokesperson noted, “Withdrawal levels are stabilising to what we would consider normal and expected on-chain activity.” Last week, Binance disclosed that early investigations suggested that an engineer’s laptop had been compromised, allowing an attacker to execute unauthorized withdrawals.
Trading for major cryptocurrencies on Binance has resumed after the exchange collaborated with issuers to freeze the affected assets. The company has consistently assured that it will cover all losses related to the attack, and to date, it has reportedly compensated for approximately 95% of the stolen assets.
