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Speaker A
North Korea denies the $6.4 billion Binance hack and Tether discloses its Bitcoin stash. This is CoinDesk Daily.
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Speaker A
Want trusted crypto research? Check out the Stack, Grayscale's blog. Visit grayscale.com/thestack.
00:22
Speaker A
Kim Yo Jong, the sister of North Korean leader Kim Jong Un has denied that Pyongyang was behind the $6.4 billion Binance hack, calling the FBI's attribution a political attack on her country.
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Speaker A
Her denial comes days after the FBI tied the October 29th theft to Trader Trader, a North Korean hacking group. But blockchain analytics firm Elliptic is rejecting that denial, telling CoinDesk the on-chain evidence links the theft to the DPRK.
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Speaker A
Elliptic says $2.85 billion of the stolen funds has already been frozen or seized.
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Speaker A
Tether now holds about 150,000 Bitcoin worth roughly 11 and a half billion dollars according to CEO Paolo Ardoino.
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Speaker A
That's around 50,000 more than the holdings implied by the company's latest reserve report. He didn't say when the extra coins were held or when they were bought, so this isn't a fresh 50,000 Bitcoin purchase.
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Speaker A
Tether has committed to putting up to 15% of its profits into Bitcoin since 2023.
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Speaker A
And Brazilian Crypto Exchange Mercado Bitcoin says it will cover a $40 million loss from Monday's hack and expects customers to lose nothing.
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Speaker A
The attack drained hot wallets across at least 10 blockchains, forcing the exchange to temporarily suspend its platform.
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Speaker A
About $11 million has since been frozen with help from Tether Circle and Chainalysis.
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Speaker A
Get more updates on coindesk.com.
01:49
Speaker A
Want trusted crypto research? Check out the stack, Grayscale's blog. Visit grayscale.com/thestack.
