Crypto giant Binance attempting to recover $6.3bn stolen in hack linked to North Korea

Binance, the world’s largest cryptocurrency exchange, says it has frozen around half of the money taken in a complex hack involving $6.3bn. The attack is linked to North Korea and is believed to be a record cryptocurrency heist.

Exchange pursues stolen funds

The freeze marks a significant step in Binance’s effort to limit the movement of the stolen assets. However, freezing funds is not the same as recovering them, and the company’s statement does not say that the money has been returned.

A major test for crypto security

The scale of the theft places the incident among the most serious attacks involving digital assets. It also highlights the challenge facing cryptocurrency exchanges when large sums are moved through complex transactions after a hack.

What Binance has confirmed

Binance said approximately half of the stolen funds had been frozen. The exchange described the hack as complex, while the incident has been linked to North Korea. The available information does not provide further details about how the attack happened or when the funds might be recovered.

For now, Binance’s action represents an attempt to contain the financial impact of the heist and preserve the possibility of recovering the remaining assets.