U.S. Fed and OCC Check Banks After $6.3 Billion Binance Hack

U.S. bank regulators, including the Federal Reserve and the OCC, contacted banks this week to check for system vulnerabilities following last week's $6.3 billion hack of Binance, the largest crypto theft on record. The outreach shows regulators view the breach as a potential risk to traditional finance. Banks are running diagnostics and some have contacted Binance's security teams. Binance said it was unaware of any regulator-bank talks and has frozen or intercepted about $2.85 billion of stolen assets, replenishing 98% of affected tokens. The attack has been linked to TraderTraitor, a unit associated with North Korea.