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Binance says phase one of withdrawals opens after $6.3B hack

The crypto exchange said it has begun phased withdrawals after the record hack the FBI has blamed on North Korea. Binance said it has reopened its Bitcoin network in phase one of resuming withdrawals after a major hack of about $6.3 billion in funds. The crypto exchange had suspended user withdrawals after the attack on Thursday, which the FBI blamed on North Korean operatives. “First batch network now opened in phase one of withdrawals is $BTC bitcoin network,” Binance said on X.

Read at Cointelegraph.com

FBI blames North Korea for record $6.3B Binance hack

US agency seeks private-sector help to block further money-laundering of stolen digital assets. The FBI said that the Democratic People’s Republic of Korea (North Korea) was responsible for the theft of about $6.3 billion in digital assets from cryptocurrency exchange Binance on Thursday. The FBI said on Saturday in a news release that it refers to this specific North Korean malicious cyber activity as “TraderTraitor,” which it has most recently observed converting stolen assets mostly into Ether (ETH). It expects these assets to be further converted, using DeFi and instant swap services, as the hackers move to more advanced laundering stages.

Read at Cointelegraph.com

Bitcoin Price Prediction for the Week: Will BTC Reclaim $80K or Dump Toward $70K?

Bitcoin’s decline has accelerated into the $77K region after buyers lost the $80K support area. The price is now testing a major daily demand zone, while on-chain data shows it approaching the average cost basis of recent holders. Bitcoin Price Analysis: The Daily Chart On the daily timeframe, Bitcoin has decisively broken beneath the ascending …

Read at CryptoPotato

Banks are owed $349B by private credit funds that may not be collecting cash from borrowers

Private credit funds can count interest as income even when the borrower hasn't sent them any cash, because some loan contracts let businesses add interest to what they owe. That gives a company more time to pay, but it doesn't extend the same courtesy to the fund, which could have borrowed money from a bank… Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox

Read at CryptoSlate

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