AGP Executive Report
Last update: 11 hours agoBinance Aftermath: Binance has reopened crypto withdrawals in phases after a record $6.3 billion hot-wallet theft, saying it has restored backing for about 90% of affected assets and will cover the shortfall itself. Customers withdrew roughly $4.65 billion and deposited about $1 billion on Sunday, leaving net outflows near $3.64 billion. North Korea Tied to Heist: The FBI blamed North Korean group TraderTraitor, saying the stolen funds are being converted mainly into Ethereum and urging crypto platforms to block transactions linked to hundreds of flagged wallets. About $3 billion in assets has reportedly been frozen; investigators say the attackers moved funds across 10 blockchains in around 20 minutes. Regulatory Pressure: Senator Cynthia Lummis argued the proposed CLARITY Act could improve information-sharing between crypto firms and law enforcement, potentially helping freeze stolen funds faster. China’s Communist Party also called for tougher action against corruption involving virtual currencies and blockchain.
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