CZ Credits US Agencies With Limiting Bitcoin Losses After $6.3 Billion Binance Hack

Bitcoin has stabilized around $78,000 after dropping below $77,000 to touch a multi-week low near $76,000 following a massive cyberattack on Binance. Former Binance CEO Changpeng Zhao credited the FBI, US Secret Service, and IRS with preventing a deeper market crash by rapidly tracing and freezing stolen assets. The breach involved over $6.3 billion stolen by the North Korean cybercrime syndicate TraderTraitor, who attempted to launder funds through Ethereum and DeFi protocols. Binance reported replenishing approximately 90% of affected client assets by October 31 to stabilize operations.