CZ says he has not spoken to Trump or Washington about Binance hack
Binance chief denies US contact as $6.3bn breach leaves $2.85bn frozen and no cyber insurance in place.
Key takeaways
- 1$6.3bn stolen in Binance hack
- 2$2.85bn frozen or seized by authorities
Changpeng Zhao, chief executive of Binance, said on Thursday that he has not talked to former President Donald Trump or anyone in Washington about the $6.3bn hack, Degen News reported. He made the comment during a livestream interview with a crypto media outlet.
CZ added that if anyone can talk to North Korea, it would be the United States or China, and Binance would welcome help. YourKhabri data show Binance has no cyber insurance covering the breach. Authorities have frozen or seized $2.85bn of the stolen funds.
Binance is the world’s largest crypto exchange, founded by CZ in 2017. The hack is the largest on record, involving roughly 12,000 wallets created at a rate of one every 25 seconds. North Korean actors are believed to be behind the operation. CFTC Chair Michael Selig called for US rules for offshore platforms after the breach, proposing an optional registration pathway.
CZ’s denial signals limited political engagement as regulators consider tighter oversight. The insurance gap leaves users exposed. The CFTC proposal may force Binance to seek US registration. Investors will watch whether the frozen $2.85bn is returned. Watch for further regulatory filings and any movement on the seized funds.
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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.