Secret Service, FBI Join Binance Hack Probe as Circle Freezes $823 Million

In brief

• Binance is working with the FBI and U.S. Secret Service after hackers stole $6.4 billion from the cryptocurrency exchange, according to Reuters.
• Circle froze approximately $823 million in USDC connected to the attack, while Tether froze another $975.1 million in USDT. Circle CEO Jeremy Allaire said the company was coordinating with law enforcement.
• Blockchain intelligence firms TRM Labs and Chainalysis attributed the attack to TraderTraitor, a North Korean hacking group previously linked to the $1.5 billion Bybit hack.

Binance is working with the FBI and U.S. Secret Service after hackers stole $6.4 billion from the cryptocurrency exchange, as Circle joins the recovery effort by freezing more than $800 million in assets connected to the attack, according to Reuters.

A person familiar with the matter told Reuters that Binance was cooperating with law enforcement agencies around the world, including both U.S. agencies. The FBI confirmed it was aware of the incident and was working with public and private partners to assess its scope and coordinate investigative steps. The Secret Service remained silent.

Investigating financial crimes is part of the Secret Service’s job, beyond its better-known responsibility of protecting the president. The agency also investigates computer crimes, unauthorized access to computer systems, and crimes involving digital currencies.