Fed, OCC assess bank security risks following $6.3 billion Binance hack: Report

Fed and OCC supervisors began contacting banks about unusual activity as the largest crypto theft on record tested the links between digital assets and traditional finance The biggest heist in crypto history has caught Washington’s attention. US bank regulators are now asking whether the damage stayed inside the crypto world. Supervisors from the Federal Reserve and the Office of the Comptroller of the Currency began calling banks on Monday morning, Reuters reported. Citing several people familiar with the matter, it said they wanted to know about any unusual activity or service disruptions after the $6.3 billion hack of Binance. What happened at Binance The attack hit on October 29, 2026. Hackers drained between $6.3 billion and $6.4 billion from Binance hot wallets. Hot wallets are the exchange’s online accounts, kept connected so customers can trade and withdraw quickly. That convenience is also what makes them a target. The theft took just 20 to 30 minutes. It spanned multiple blockchains, with Ethereum carrying most of the activity. The FBI attributed the breach to TraderTraitor, a North Korean unit that sits within the Lazarus Group. That group is no stranger to big crypto sc...