$3.6bn Pulled From Binance After Multibillion-Dollar Heist
Binance said withdrawals are stabilizing after the exchange processed $4.6 billion in outflows and more than $1 billion in deposits in nine hours.
- North Korean state-supported cyber group TraderTraitors stole an estimated $6.3bn in crypto assets from Binance in a highly-complex operation taking around 20 minutes to complete late last week.
- Binance froze about $3bn in assets last Friday, while coin issuers including Tether and Circle also froze billions to prevent further losses after the security breach.
- During nine hours yesterday, the exchange processed $4.6bn in withdrawals and more than $1bn in deposits, representing a net outflow of $3.6bn, or 2.1pc of its $171bn in assets under management.
- While Binance stated set-aside funds have covered 90pc of lost assets, Alexander Shirtcliff of Edwin Coe claims user terms contain liability limits and lack Secure Asset Fund commitments.
- With this latest loot, the North Korean group now wields nearly $8bn in stolen crypto assets, following a connected $1.5bn theft at ByBit early last year.
23 Articles
23 Articles
The hackers' attack has shaken confidence in the cryptoplatform Binance. It is not quite clear how much money investors have raised – the amount goes into the billions anyway.
FBI accuses North Korea for attack on Binance, considered the largest theft of cryptocurrency from the US$6.3 billion (about R$34.2 billion) in Binance cryptocurrency, the largest broker in the world, has not yet caused a widespread loss of confidence among investors. Nevertheless, the attack should increase the caution of large investors and reinforce concerns about the security of the digital assets market, according to analysts. .You have any…
A few hours after the resumption of operations, users withdrew $4.65 billion in assets after the cyber attack, the Binance cryptoval exchange was hit by billions of dollars. On 1 November, the largest activity of clients was the first hours after the platform allowed crypto-asset withdrawal operations to take place again. This was reported by RBC-Ukraine with reference to the Binance statement on the X social network. Between 6:00 and 3:30 World…
The U.S. FBI attributed the attack to North Korea and links it to the cyber activity known as TraderTraitor Binance suffers a cyberattack where it is robbed of $6.3 billion and blocks the withdrawal of deposits The Binance cryptocurrency exchange platform recorded net outflows of funds of about $3.64 billion after the resumption of customer withdrawals, suspended as a result of the cyberattack suffered last week and which U.S. authorities attrib…
Binance sees outflows stabilizing as exchange returns online after $6.3 billion heist
Binance customers pulled $3.64 billion, or 2.1% of its assets, as the world's biggest cryptocurrency exchange resumed service after a security breach linked to North Korea saw $6.3 billion stolen from the platform last week.
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