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Binance says $6.3 billion stolen in biggest crypto heist in history
- In the largest security breach in cryptocurrency history, hackers drained an estimated $6.3 billion from Binance hot wallets across 10 blockchains in a coordinated attack lasting roughly 20 minutes on Thursday evening.
- Initial investigations indicate the breach originated from a compromised DevOps engineer's laptop, enabling the attackers to gain access to a service container, utilize Ethereum's EIP-7702 feature to authorize malicious contracts, and execute unauthorized withdrawals without compromising wallet private keys.
- Blockchain analytics firms TRM Labs and Chainalysis attributed the massive intrusion to "TraderTraitor," an elite North Korean state-sponsored cyber warfare unit, noting that stolen assets were rapidly swapped into Ether and mixed with funds from previous exploits.
- Binance immediately suspended all deposits and withdrawals, while coordinated intervention by the exchange, stablecoin issuers, and law enforcement successfully froze roughly $3 billion of the stolen assets on-chain.
- Binance stated it will fully cover all unrecovered user losses through its SAFU reserve and corporate funds, while the broader crypto market suffered sharp declines—wiping out $170 billion in market capitalization and triggering over $1.3 billion in leveraged liquidations within 12 hours.
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A manipulated employee device could have made it possible to rob the record. Experts suspect North Korean hackers.
·Berlin, Germany
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Blockchain intelligence firms link North Korea to US$6.3B hack on Binance
The cryptocurrency exchange said Friday that deposits were unaffected, while withdrawals have been suspended and are expected to resume in the next day or two. It said it will cover all losses.
·Wellington, New Zealand
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Analyst firms are linking the attack to a North Korean group of operatives. It could be the biggest crypto heist in history.
·Belgrade, Serbia
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The cryptocurrency giant Binance assured Friday "working tirelessly" to mitigate the impact of a huge hack that he suffered, at an estimated $6.3 billion damage, half of these funds having been frozen by partners to limit theft.
·Montreal, Canada
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Total News Sources847
Leaning Left93Leaning Right96Center118Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 30%
C 39%
R 31%
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