The $6.3 Billion Binance Hack Was Pulled Off in Just 20 Minutes

Following the theft, Binance almost immediately suspended all deposits and withdrawals from its services as part of its investigation into the hack and says it is working to identify who was behind the breach. The company, along with other crypto firms, says it has so far been able to freeze around half of the stolen funds—essentially stopping hackers moving the money further or trying to cash it out. Much of the remaining crypto may not be possible to freeze, however.

Three crypto tracing firms have been quick to link the attack potentially to North Korean hackers. “We think North Korea is likely responsible,” Tom Robinson, chief scientist and cofounder of Elliptic, tells WIRED. “If North Korea is behind it, this one theft would almost double everything the regime has stolen in crypto to date.”