Attackers stole approximately $6.3 billion in digital assets from Binance in an October 29 breach, making it the largest recorded cryptocurrency theft. The FBI attributed the operation to the North Korea-linked TraderTraitor group, while Binance suspended withdrawals, covered customer losses and gradually restored its services. Bitcoin fell below $80,000, triggering significant liquidations of leveraged positions, as billions of dollars in stolen assets were frozen or seized. The incident revived Warren Buffett and Charlie Munger’s criticism of cryptocurrency risks without demonstrating a failure of Bitcoin’s decentralized network itself.
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