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Binance says $6.3 billion stolen in biggest crypto heist in history
Analysts say the breach could be the biggest crypto theft on record, while Tether and Circle froze more than $2.4 billion in related stablecoins.
- 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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Westfalenpost+8 Reposted by 8 other sources
A manipulated employee device could have made it possible to rob the record. Experts suspect North Korean hackers.
·Essen, Germany
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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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Coverage Details
Total News Sources871
Leaning Left94Leaning Right97Center125Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 30%
C 39%
R 31%
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