Binance explained the behind the scenes of the cyber attack

Binance said the cyberattack it suffered last week was a multi-stage, sophisticated operation, and it reported that $2.85 billion in assets have been frozen or recovered since the breach. The exchange noted that the FBI has attributed the attack to North Korea. The incident matters because it marks one of the largest recoveries of funds tied to a crypto hack and highlights the growing role of law enforcement in tracing on-chain assets. What to watch next is whether Binance completes the return of frozen assets to affected users and whether North Korea-linked wallets attempt further moves of the stolen funds.