A Simple Explainer of the Massive $6.3 Billion Crypto Heist at Binance
Binance and partners froze about $3 billion as the exchange said it will reimburse customers after the biggest cyber heist in history.
- At 4:05 p.m. Eastern on Thursday, hackers accessed investor accounts at Binance and stole over $6.3 billion in cryptocurrencies within about 20 minutes, marking the largest cyber heist in history.
- Sophisticated cybercriminals from the North Korean military unit known as TraderTraitor executed the attack. Ari Redbord, global head of policy at TRM Labs, calls it "the largest bank robbery in human history."
- Binance, working with other exchanges and partners, has frozen about $3 billion in stolen cryptocurrencies, effectively preventing hackers from taking full possession of the digital assets stolen in the 20-minute raid.
- Although Binance promised to repay affected customers, Amanda Fischer, policy director at Better Markets, warns the regulatory framework for crypto is "much weaker than what investors in the US enjoy in other markets."
- Researchers warn the stolen funds will likely support North Korean weapons proliferation, noting the heist demonstrates sophisticated cyber capabilities that exceed Wall Street standards and raise alarms across the sector.
13 Articles
13 Articles
The hacker attack on the world's largest digital currency exchange Binance has caused uproar among investors and stock market representatives. As the company explained, cryptocurrencies worth $6.3 billion have been stolen, some of which are still being wrestled. An overview of the course of the probably largest crypto hacker attack in history and how investors can protect themselves.
A simple explainer of the massive $6.3 billion crypto heist at Binance | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker - National Cyber Security Consulting
It was the biggest cyber heist in history. Binance, the world's largest cryptocurrency exchanges, was hacked this week, with cybercriminals plundering more than $6 billion. Experts widely believe the hackers were a sophisticated unit within the North Korean military that has a track record of committing cyber heists. The theft stunned the crypto industry and […] Thank you for subscribing to our RSS feed!
Binance has emphasized that it will bear all financial losses resulting from the recent hacking attack and that users’ assets will not be affected by the incident.
It used to be impossible: we are talking about more than 60 tons of $100 bills. But, with the hacking of the Binance cryptocurrency exchange, it became possible
Coverage Details
Bias Distribution
- 60% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
