Hacking News
Binance Restores $6.3B in Stolen Assets
Binance, a cryptocurrency exchange, announced the replacement of all assets stolen in a security breach that resulted in losses of approximately $6.3 billion. The exchange updated its Proof of Reserves, which uses zero-knowledge proofs to verify customer balances. The breach, attributed to North Korea's TraderTraitor hacking group, involved a laundering technique using newly created meme tokens on the NEAR blockchain. Binance committed company funds, including its Secure Asset Fund for Users (SAFU), to cover customer losses.