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Long Accused of Abetting Crypto Crimes, Binance Has Now Become a Victim

On Friday, Binance announced it is working with blockchain partners to recover assets after a $6.3 billion theft, successfully freezing roughly $3 billion in affected funds.
Blockchain intelligence firm TRM reported Thursday that North Korea's elite hacking unit, TraderTraitor, likely orchestrated the heist; Pyongyang frequently targets digital assets to evade sanctions and fund nuclear weapons development.
Founded by Changpeng Zhao, who served four months in jail for violating the Bank Secrecy Act, Binance faced regulatory scrutiny under The Biden Administration before receiving a pardon from President Donald Trump last year.
While the exchange handles the breach, Zhao posted that "User funds are safe!" as Binance continues working to recover assets stolen in the attack.
This incident occurs as the cryptocurrency industry navigates post-2022 market volatility following the FTX collapse, with Binance maintaining its position as the world's largest exchange amid geopolitical threats.

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Long accused of abetting crypto crimes, Binance has now become a victim

Binance and its billionaire founder have long been accused of profiting off crypto criminals

1 hour ago·Washington, United States

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Long accused of abetting crypto crimes, Binance has now become a victim – WTOP News

NEW YORK (AP) — Binance and its billionaire founder have long been accused of profiting off crypto criminals. Now they have become victims. Targeted in what looks like the largest cryptocurrency heist in history, Binance and Changpeng Zhao have been front-page news for most of the crypto exchange’s short history, often in unflattering ways. He...

1 hour ago·Chevy Chase, United States

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