# Former Bank of England deputy governor urges early crypto safeguards as investigators trace record hack to North Korea’s Lazarus Group

- URL: https://talkfuse.com/story/call-for-guard-rails-to-protect-crypto-currency-in-britain-after-the-record-6-3billion-hack/
- Published: 2026-10-31T23:27:08+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16255419/Call-guard-rails-protect-crypto-currency-Britain-record-6-3billion-hack.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Business, Crypto, Cybersecurity, Technology, UK, World

## Key points

- Cunliffe urges early safeguards as crypto grows.
- Investigators suspect North Korea’s Lazarus Group.
- $3 billion is frozen; up to $2.4 billion may remain.

## Summary

Sir Jon Cunliffe, former Deputy Governor of the Bank of England, has called for early “guard rails” to protect Britain as cryptocurrency becomes more connected to mainstream banking. He said regulation is difficult to add later, while stressing that the Binance hack does not currently threaten the UK’s mainstream financial system because the exchange is not authorised or operated here.

Investigators at TRM Labs and Chainalysis believe North Korea’s state-backed Lazarus Group carried out the reported $6.3 billion attack, which they say was planned over many months. A targeted developer’s laptop may have given attackers the approvals to withdraw funds in 20 minutes; $3 billion has been frozen, and investigators estimate North Korea may gain up to $2.4 billion after laundering. The group is also blamed for the 2025 Bybit hack, then the largest at $1.5 billion.

## Coverage

- [Daily Mail: Former Bank of England deputy governor urges early crypto safeguards as investigators trace record hack to North Korea’s Lazarus Group](https://www.dailymail.com/news/article-16255419/Call-guard-rails-protect-crypto-currency-Britain-record-6-3billion-hack.html?ns_mchannel=rss&ns_campaign=1490&ito=1490)
- [Daily Mail: FBI confirms North Korea was responsible for 'biggest hack in history' after $6.3billion was stolen from crypto giant Binance](https://www.dailymail.com/news/article-16255803/fbi-north-korea-binance-hack-stolen.html?ns_mchannel=rss&ns_campaign=1490&ito=1490)

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.