Binance: North Korea suspected in record $6 billion theft from world’s largest crypto exchange
Binance has suspended withdrawals following a massive $6 billion cryptocurrency heist, the largest in history. Security firms and blockchain analysts suspect the attack originated from North Korean state-linked hackers.
Why it matters
This record-breaking theft highlights the ongoing security vulnerabilities in the crypto ecosystem and the role of state-sponsored actors in cybercrime.
Binance, the world’s largest cryptocurrency exchange, has suspended withdrawals after hackers broke into its digital wallets and stole $6 billion in what appears to be the biggest crypto heist ever. The exchange said Friday that it has begun recovering affected assets and was continuing to work with law enforcement and blockchain intelligence firms to trace additional funds. An initial investigation suggested the hack went through an engineer’s laptop, “which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions,” Binance said late on Thursday. Blockchain evidence suggests the hack originated in North Korea, according to multiple crypto-tracing firms. A team of cryptocurrency firms managed to freeze about $3 billion of the stolen loot amid a frenetic battle with the hackers to find and control the digital money.
Also covering this story
17 other newsrooms covered this event. We read each version separately.
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