Trump Says US Looking At Whether Binance Hack Was By North Korea

(MENAFN- Live Mint) President Donald Trump said the US was looking into whether North Korean hackers were behind a $6.3 billion heist targeting Binance that has rattled the cryptocurrency world.

“We don't know. We're looking at that,” Trump told reporters Friday in the Oval Office when asked if the hack should be attributed to actors from North Korea.

Hackers from that country have been known to prey on the digital asset industry and accused by the FBI and cybersecurity experts of involvement in some of the biggest crypto thefts in recent years.

Quick answers to key questions

.5 QUESTIONS1What happened in the Binance hack?⌵

Binance reported a security breach involving an estimated $6.3 billion in cryptocurrency assets. The exchange suspended withdrawals while it investigated and worked to trace and freeze affected funds.

2Was North Korea responsible for the Binance hack?⌵

Responsibility has not been confirmed. Chainalysis said it had high confidence that a North Korea-linked group was involved, while President Trump said the US was still looking into the possibility.

3How did hackers breach Binance?⌵

Binance's initial investigation suggested the breach may have started with an engineer's hacked laptop, which let an attacker access a system and make unauthorized withdrawals. Investigators were still examining how the attackers gained access.

4How much of the stolen Binance funds were frozen?⌵

Binance said about $3 billion of the affected assets had been frozen or located. Stablecoin issuers and other crypto firms also froze assets linked to the incident.

5Did Binance suspend withdrawals after the hack, and when were they expected to resume?⌵

Yes. Binance temporarily suspended withdrawals as a precaution while its security teams checked the platform and traced affected assets. Co-founder Yi He said withdrawals were expected to resume by Sunday.

Binance, the world's largest crypto trading platform, suspended withdrawals and pledged to cover all losses after the hack, the biggest heist the digital-asset industry has ever faced. Binance posted on X that about $3 billion of the assets had been frozen on blockchain networks. In another post, co-founder Yi He said withdrawals were expected to resume by Sunday.

“They're saying they're guaranteeing it or something,” Trump said.“It was a hack. That's the problem. You know the old-fashioned way when you used to sign a check, take it out. These are different people. Never see the money anymore. So I've always felt it was a little bit dangerous.”

“They say they have it pretty much under control,” he added, referring to Binance.

Binance has had ties to businesses connected to the president and his family. The firm helped develop a stablecoin for a company that Trump and his sons co-founded. Changpeng Zhao, Binance's co-founder and former CEO, was pardoned by Trump in 2025 after he pleaded guilty to failing to enforce robust anti-money-laundering measures.

The hacking incident came amid growing concern about the risks posed by hackers in the artificial intelligence age. It also marked a setback for an industry that is keen to expand its presence in traditional finance and which has benefitted from Trump's push to ease regulatory burdens.

Western governments have accused North Korea of fostering hacking groups and using them to bring in funds to pay for weapons programs.

Earlier: North Koreans Seen as Likely Hackers in Giant Binance Heist

Trump in recent weeks has floated new US outreach to North Korea, suggesting that a potential meeting with its leader, Kim Jong Un, could happen this year. Earlier this month, however, Trump downplayed those expectations, saying he was“not sure that anybody's asking for a meeting.”

With assistance from Josh Wingrove.

©2026 Bloomberg L.P.

This article was generated from an automated news agency feed without modifications to text.

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