News about BNB

Binance co-founder and former CEO Changpeng Zhao asked Elon Musk to stop “trolling” and “show some support” after Musk posted a series of mocking emojis upon learning of the $6.3 billion hack on the exchange. Zhao noted that Binance's SpaceX stake, from its $500 million investment in Musk's Twitter takeover, is worth more than $1 billion, a tiny fraction of SpaceX's roughly $2 trillion valuation. Binance froze all withdrawals and deposits after the hack, which investigators suspect was carried out by North Korean hacking unit TraderTraitor, and has since restored deposits. Around $3 billion in cryptocurrency assets has been frozen so far.

RUNE rose more than 13% to $0.67 from a local low of $0.59 at 12:20 a.m. UTC, according to TradingView data, after Binance confirmed the $6.3 billion hack. Onchain investigator ZachXBT said funds stolen from Binance and Bitget's September hack passed through THORChain and were combined at the same Ethereum address, and that the Bitget attack was attributed to North Korea-linked TraderTraitor. TRM Labs and Chainalysis also linked the Binance hack to the group. North Korean hackers had previously used THORChain to launder funds from the $1.4 billion Bybit hack and the $388 million Bitget hack. THORChain rejected Bitget CEO Gracy Chen's call to block the attacker's addresses, saying it cannot block individual swaps, though node operators can pause trading across a blockchain or the network. Validator TCB threatened to leave unless the protocol stopped processing North Korea-linked funds.

Binance has pledged to restore exchange operations within a couple of days after a record $6.3 billion heist, believed to be the largest ever. The hack has rattled the industry and investors.