Hacking News
South Korean Traders Shift to Tether After Binance Hack
South Korean crypto traders are shifting funds into Tether (USDT) following Binance’s $6.3 billion hack. Trading activity across the country's five largest exchanges rose 45.4% over two days, indicating investors seeking protection from market volatility. Upbit's USDT trading volume surged 27-fold within an hour of the first hacking reports, with its share of daily trading briefly exceeding 7%, making USDT the second-most traded asset. The FBI attributed the hack to Tiger Research, leading to increased demand for USDT to limit exposure to further declines.