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Fed, OCC check banks after Binance hack

Federal Reserve and Office of the Comptroller of the Currency officials contacted banks to ask about unusual activity or service disruptions after the Binance hack, Reuters reported, citing people familiar with the matter. The inquiries were reported, not confirmed by the agencies: the Fed said it had nothing to share, and the OCC had not responded to a request for comment.

Binance said about $6.34 billion in digital assets were affected by the Oct. 29 attack, with $2.85 billion frozen or intercepted as of its Nov. 3 incident report. A Binance spokesperson said the exchange shared that report with its banking partners and was not aware of vulnerabilities affecting them. CertiK’s Stefan Muehlbauer said the inquiries could lead to closer scrutiny of how banks manage crypto-related risks.

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