Binance news: Binance confirms $8.9b exploit linked to compromised laptop, freezes $4.2b in assets
Cryptocurrency exchange Binance has frozen $4.2 billion in assets following a massive $8.9 billion exploit linked to a compromised employee laptop. The company has suspended deposits and withdrawals while investigating the breach and has pledged to cover user losses.
Why it matters
This incident represents one of the largest security breaches in cryptocurrency history, raising significant concerns about the vulnerability of centralized exchanges.
- 4.32am . First published at 3.12am
shares Share article The world’s largest cryptocurrency exchange, Binance , has frozen roughly $4.2 billion in assets following a $8.9 billion exploit suspected to be the largest hack in history.
In a social media post, Binance said an initial investigation suggests the incident involved a “compromised DevOps engineer’s laptop, which allowed an attacker to access a service container and submit unauthorised withdrawal transactions”.
Binance was founded in 2017 by Changpeng Zhao. AP
Binance stated it found no evidence of any wallet private key leak in the alleged $8.9 billion ($USD6 billion) hack.
“Our teams are working around the clock to resolve this issue safely and thoroughly,” Binance said in the statement posted to X.
It said it revoked the compromised address’s permissions and engaged law enforcement and blockchain analysts to identify the attackers and track down the stolen assets.
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