FBI Blames North Korea For $6.3 Billion Binance Crypto Hack, Says Stolen Assets Being Converted Into Ethereum

Binance resumed withdrawals after security checks, with ~1.1M BTC linked to an early miner potentially impacting BTCUSD spot CFD volatility. BTCUSD saw $107.21M liquidations in 24h, trading near 76,650. Binance moved 7,499 BTC to restore assets affected by a breach. Regulatory changes may impact crypto market structure.

Binance hacker moved $46.4M in stolen SOL via Relay Protocol to convert to Bitcoin, part of $96M in stolen SOL. Earlier, the hacker converted $279M in altcoins to ETH and USDC. FBI linked the attack to North Korea's TraderTraitor, urging exchanges to block transactions. Binance will cover customer losses.

Bitcoin miners, including Core Scientific and Genesis Digital Assets, have secured over $100B in AI contracts, but revenue generation remains limited. Core Scientific's $3.3B financing adds interest costs before shareholders see returns. Conversion to AI data centers requires significant retrofits and financing, with revenue dependent on contract terms. Core Scientific wrote down $266.5M in mining equipment and infrastructure in Q1, while its AI colocation business is already generating revenue.

Binance has begun a phased restart of crypto withdrawals following a $6.3 billion hack, starting with bitcoin (BTC) and other major cryptocurrencies. The exchange prioritized the most requested networks and will monitor security and stability checks. Binance has replaced about 95% of the affected assets using company funds, assuring users that their balances are fully backed.

Strive completed its largest Bitcoin purchase, funded by a preferred share offering. The company now holds 43,000 BTC, with an average purchase price of $82,732. This strategy aims to stabilize capital and manage volatility, reflecting broader corporate trends in digital asset adoption.

Binance, the world's largest crypto exchange, resumed withdrawals for Bitcoin, Ethereum, and other major cryptocurrencies after a $6 billion heist. The company will cover 90% of the losses. The FBI accused North Korea of being behind the attack, attributing it to a group called TraderTraitor.