Binance says $6.3 billion stolen in biggest crypto heist in history
Binance said it has frozen about $3 billion in assets and is working with law enforcement and issuers to trace more funds.
- 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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The trading platform said on Thursday 29 October that it had undergone a huge hack. All deposits and withdrawals were "temporarily suspended".
It's one of the biggest hits in history. The exchange company immediately intervened. About three billion are already safe.
North Korean actors steal $6.36B from Binance in largest crypto theft in history
North Korean cybercriminals stole $6.36 billion in cryptocurrency from the Binance exchange on Thursday, recording by far the biggest virtual theft in history, according to a U.S. blockchain analytics firm. In a blog post, TRM Labs said an attacker drained funds from Binance, the world’s largest cryptocurrency exchange by trading volume, to wallets across 10 […]
Crypto exchange Binance has been hit by a security breach of an estimated $6.3 billion. According to US blockchain analytics firm TRM Labs, attackers pulled about $6.36 billion from exchange wallets across 10 blockchains, with most of the funds moved in about 20 minutes. TRM Labs associates the attack with the North Korean hacking group TraderTraitor with a high degree of confidence. “The attacker moved approximately $6.36 billion from Binance w…
Crypto giant Binance hit by 'largest hack in history'
The world’s largest cryptocurrency platform has been hit by one of the most severe hacks in history, affecting several billion dollars of digital assets and forcing it to freeze customer accounts. Binance said on Thursday that some $6.3bn (£4.7bn) had been impacted by the attack, half of which has been frozen but still in its [...]
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