FBI and US Secret Service launch investigation into Binance hack

The Federal Bureau of Investigation (FBI) and the US Secret Service, which is responsible for protecting the country's top officials, have launched an investigation into the large-scale hack of cryptocurrency exchange Binance.

According to Report, the FBI said it was "aware of the incident and is working with relevant public- and private-sector partners to assess the scope of the activity, analyse potential implications and coordinate necessary investigative measures".

The Secret Service said its "investigators are working around the clock with private-sector partners, including [USDC issuer] Circle, to identify, freeze, trace and recover funds stolen from Binance on Thursday".

"We are also working closely with the US Attorney's Office for the District of Columbia and law enforcement agencies to identify the cybercriminals responsible and bring them to justice," the Secret Service added.

Cryptocurrency exchange Binance reported on October 29 that it had been targeted in a cyberattack. Losses could amount to $6.3 billion. Customer deposits remain unaffected and are accessible as usual.

The exchange suspended all deposits and withdrawals but expects these services to resume within the next two days. Working with partners across the blockchain industry, Binance has managed to freeze some of the affected assets. Around $3 billion has so far been blocked directly on the blockchain.