DAILY MAIL · 2026-10-31 22:26 UTC

Call for 'guard rails' to protect crypto currency in Britain after the record $6.3billion hack

Bank of England's former Deputy Governor Sir Jon Cunliffe called for regulatory 'guard rails' on cryptocurrency in Britain following a record $6.3 billion hack of Binance. Cyber investigators attribute the attack to North Korea's state-backed Lazarus Group, with $3 billion of stolen funds frozen but $2.4 billion potentially available for laundering. Cunliffe warned that early regulation is needed as crypto grows closer to mainstream banking, though noted Binance's lack of UK authorization means the domestic financial system is not yet at risk of destabilization.

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