Fed, OCC check US banks after Binance hack as experts flag security risks
US regulators reportedly contacted banks following last week’s $6.3 billion Binance security hack, while experts raised concerns about transaction security and crypto risks.
US regulators reportedly contacted banks following last week’s $6.3 billion Binance security hack, while experts raised concerns about transaction security and crypto risks.
US regulators reportedly contacted banks following last week’s $6.3 billion Binance hack, as cybersecurity experts raised concerns about how financial institutions handle crypto-related security risks.
Officials from the Federal Reserve and Office of the Comptroller of the Currency (OCC) began contacting banks on Monday to ask about “unusual activity” or service disruptions, Reuters reported Thursday, citing people familiar with the matter.
The inquiries also come after the Federal Reserve removed a requirement in April 2025 for state member banks to notify regulators before engaging in crypto activities. The Fed said it would continue overseeing those activities through its regular supervisory process.