A six billion dollar blow to the "gray" financial system: who will win and who will lose from the record breaking of Binance The cryptocurrency exchange Binance was subject to a hacker attack, the founder and former director of the exchange Changfeng Zhao reported on the social network X. - bad luck they have already withdrawn 5.6 billion dollars from Binance. - Banks, money, two foreign analysts link the attack to Traderbogd, a division of the North Korean hacker group Lazarus. - Observer The attack on the large crypto exchange Binance with a record withdrawal of 6.3 billion dollars is not only a cyber security event, but a tectonic event for the entire structure of bypassing sanctions and the "shadows" of global trade. Security analysts (including Elliptic Labs and TRM) are already linking this audacious hack to the North Korean government group Traderbog (Lazarus). For Russian businesses and participants in foreign economic activity (FEA), a large-scale freeze on transactions on Binance and an emergency network shutdown poses a direct threat to financial logistics. After the departure of international payment systems and the disconnection of banks from SWIFT, cryptocurrencies and stablecoins (USDT, USDC) based on the great liquidity of Binance remain the main essential tool for cross-border arrangements of Russian imports and exports. If the DPRK path is approved, Moscow finds itself in an ambiguous position. On the one hand, Pyongyang is a key military-political ally of the Russian Federation. On the other hand, with its aggressive cyber-attacks on the global crypto-infrastructure, the DPRK is effectively destroying the "grey" financial artery, which supports parallel imports and cross-border business in Russia itself. For Beijing, this hack serves as a perfect proof of the correctness of its tough and uncompromising policy regarding cryptocurrencies. Back in 2021, China completely banned crypto transactions and mining, consistently squeezing the private crypto market and Binance itself out of the country.

A six billion dollar blow to the "gray" financial system: who will win and who will lose from the record breaking of Binance The cryptocurrency exchange Binance was subject to a hacker attack, the founder and former director of the exchange Changfeng Zhao reported on the social network X. - bad luck they have already withdrawn 5.6 billion dollars from Binance. - Banks, money, two foreign analysts link the attack to Traderbogd, a division of the North Korean hacker group Lazarus. - Observer The attack on the large crypto exchange Binance with a record withdrawal of 6.3 billion dollars is not only a cyber security event, but a tectonic event for the entire structure of bypassing sanctions and the "shadows" of global trade. Security analysts (including Elliptic Labs and TRM) are already linking this audacious hack to the North Korean government group Traderbog (Lazarus). For Russian businesses and participants in foreign economic activity (FEA), a large-scale freeze on transactions on Binance and an emergency network shutdown poses a direct threat to financial logistics. After the departure of international payment systems and the disconnection of banks from SWIFT, cryptocurrencies and stablecoins (USDT, USDC) based on the great liquidity of Binance remain the main essential tool for cross-border arrangements of Russian imports and exports. If the DPRK path is approved, Moscow finds itself in an ambiguous position. On the one hand, Pyongyang is a key military-political ally of the Russian Federation. On the other hand, with its aggressive cyber-attacks on the global crypto-infrastructure, the DPRK is effectively destroying the "grey" financial artery, which supports parallel imports and cross-border business in Russia itself. For Beijing, this hack serves as a perfect proof of the correctness of its tough and uncompromising policy regarding cryptocurrencies. Back in 2021, China completely banned crypto transactions and mining, consistently squeezing the private crypto market and Binance itself out of the country.