Phyrex
Phyrex|Oct 30, 2026 21:32
It's surprising that Trump already knew about the Binance hack and even mentioned it at today's press conference. The reporter's question was direct: was it Kim Jong-un? As a friend of Kim Jong-un, Trump replied that he didn't know yet, but the FBI was investigating. (This means it's not just Binance investigating; the FBI is also investigating and may even be reporting to the President.) I'm curious to know what the President's next statement will be if it's proven that Kim Jong-un was responsible. Also, Senator Cynthia Lummis, mentioning the Binance hack, advocated that the Clarity Act could provide legal protection for companies to freeze suspicious transactions at the request of law enforcement. After the Bybit attack in 2025, the FBI publicly identified North Korea's TraderTraitor as responsible five days later and called on exchanges and other institutions to intercept related transactions. Following the Bybit incident, Senators Elizabeth Warren and Jack Reed jointly wrote to the Treasury and Justice Departments, inquiring about how to address North Korean cryptocurrency theft and its potential weapons financing risks. This Binance theft is the largest single cryptocurrency theft on record. PS: If it's confirmed that Kim Jong-un was responsible, I suggest @cz_binance and @heyibinance establish a fund, inviting other exchanges, stablecoin issuers, security agencies, and even individuals to participate. This fund could be similar to Elon Musk's DOGE. Besides providing funding, it could build a long-term security team to proactively identify security vulnerabilities in exchange and wallet systems, help participating institutions check withdrawals, signatures, and hot wallets, and reward researchers who discover and promptly report vulnerabilities. Simultaneously, the team could track the hacker's on-chain funds and establish connections with exchanges, stablecoin issuers, and law enforcement agencies. Upon discovering abnormal transfers, it should promptly share supported addresses and transaction information with relevant institutions to take action before the hacker cashes or transfers the funds. Following the Binance theft, many institutions in the industry have already participated in tracking and freezing funds. If this cooperation can be sustained, with dedicated funds and a team in place, problems can be identified earlier in the future when similar incidents occur, allowing more time to track down and freeze funds.
+6
Mentioned
Share To

Timeline

HotFlash

APP

X

Telegram

Facebook

Reddit

CopyLink

Hot Reads