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North Korean Hackers Launder $6.3 Billion Stolen from Binance
North Korean hackers are moving roughly $6.3 billion in virtual assets stolen from Binance, the world's largest cryptocurrency exchange, through thousands of wallets to launder the funds, Business Korea reports. The stolen amount is about 8.4 trillion won, and the hackers have executed thousands of fund transfers, with one report citing 12,000 wallets and another 3,000 transfers. U.S. blockchain analysis firm TRM Labs attributed the heist to North Korea, saying an attacker moved approximately $6.36 billion out of Binance wallets, Yonhap and Korea Times report. The FBI has also blamed North Korean hackers, and President Donald Trump is open to confronting Pyongyang over the attack, KBS World reports. Binance clients have withdrawn a net $4.72 billion since the exchange reopened, Korea Times reports. North Korea has protested the U.S. claims, accusing Washington of conducting a "hostile act," KBS World adds. Korean crypto exchanges are on alert as signs emerge that the stolen assets are being laundered, Korea Times reports. Analysts say North Korea has every incentive to keep stealing crypto to bankroll its military ambitions, Korea Times reports.
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