Binance suffers $6.3 billion attack; Federal Reserve and OCC investigate banking system risks.

Following the $6.3 billion hack that Binance suffered last week, the Federal Reserve and the Office of the Comptroller of the Currency began contacting banks this week to inquire about any unusual activity or service disruptions in their systems, in order to assess the risk of the crypto market security incident spreading to the traditional financial system. Several banks are conducting security diagnostics on their internal systems to assess whether there are vulnerabilities that could be exploited by similar attack methods. The cybersecurity team of a major U.S. bank has contacted Binance and begun compiling an internal report. Binance is in contact with global regulators to report the security incident. The Federal Reserve and the Office of the Comptroller of the Currency declined to comment. Banks are investing resources in reviewing and patching cybersecurity code to address the increased difficulty of protection as AI models evolve. (Source: Reuters)