Blockchain intelligence firms link North Korea to $6.3B hack on Binance
Blockchain intelligence firms have identified a North Korean hacking unit as the likely perpetrator behind a massive $6.3 billion theft from the Binance cryptocurrency exchange. Binance is currently working to recover assets and has pledged to cover user losses.
Why it matters
This incident represents the largest cryptocurrency theft in history and highlights the ongoing security risks posed by state-sponsored cyber warfare.
A U.S.-based blockchain intelligence firm says a North Korean unit was likely behind the hack that impacted more than $6 billion on Binance, the world's biggest cryptocurrency exchange.
Binance said it worked with blockchain partners to freeze roughly $3 billion in affected assets. It said Friday that it was beginning to recover assets for users.
The cryptocurrency exchange said deposits were unaffected, while withdrawals have been suspended and are expected to resume in the next day or two. It said it will cover all losses.
The company said on X that an initial investigation suggested the incident may have involved a compromised laptop, but that a subsequent investigation uncovered additional "points of breach."
TRM, in a post on its website Thursday, attributed the attack to TraderTraitor, which it described as North Korea's elite hacking unit. "We make this judgment with high confidence," the firm said.
Headlinne story · 8 newsrooms
Binance Freezes Billions After Record Cryptocurrency Exchange Cyber Heist
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