President Donald Trump said the United States might engage diplomatically with North Korea if the country is confirmed responsible for stealing $6.3 billion from Binance in what became the largest cryptocurrency exchange hack ever recorded. The FBI has attributed the attack to TraderTraitor, a North Korean state-sponsored hacking unit. Binance has replaced around 90 percent of the stolen funds and worked with partners to freeze approximately $3 billion in affected assets.
The incident has strengthened regulatory arguments from the CFTC, which proposed voluntary federal registration for crypto exchanges earlier this month. CFTC Chairman Michael Selig said the breach demonstrates why offshore exchanges need the cybersecurity standards and customer protections required in traditional US financial markets.
Read the full story on BSC News: Trump Says US Could Engage North Korea If Behind $6.3 Billion Binance Hack
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