US proves Binance security breach: Trump

He made the remarks while speaking to reporters in the Oval Office on Friday (October 30).

"We don't know what the reason behind it is. We are looking into it," Trump said

Asked whether the funds could be recovered, Trump said those involved were claiming that they would bring the money back and were offering some sort of guarantee.

He compared the situation with traditional banking methods, saying, "You know, in the old days, you would sign a cheque and withdraw the money. People today are different. You never see the money again. So I have always thought it was somewhat dangerous."

Meanwhile, US-based blockchain intelligence firm TRM Labs said a North Korean unit was likely behind the hacking incident, which reportedly resulted in losses of more than $6 billion for Binance.

-MT