Fed and OCC Probe Bank Security After Binance’s $6.3B Hack: Report

The Federal Reserve and Office of the Comptroller of the Currency (OCC) contacted U.S. banks following Binance’s $6.3 billion hack, Reuters reported Nov. 5. Supervisors sought information about suspicious activity, service disruptions, and cybersecurity vulnerabilities. The regulatory inquiries followed the Oct. 29 Binance theft, which investigators attributed to North Korean hackers, and was followed by a separate cyberattack involving French banking group Crédit Mutuel Arkéa. The Federal Reserve and Office of the Comptroller of the Currency (OCC) began contacting U.S. banks on Monday, Nov. 2, following the $6.3 billion Binance hack on Oct. 29. Reuters journalists Stephen Gandel and Nupur Anand reported on the regulatory outreach on Nov.

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