Binance, the world's largest cryptocurrency exchange, suffered a record-breaking $6.3 billion hack on October 29, with blockchain intelligence firms TRM Labs, Chainalysis, and ZachXBT attributing the attack with high confidence to TraderTraitor, North Korea's elite state-sponsored hacking unit. The attackers likely gained access through a compromised employee laptop, then exploited Binance's hot wallet signing system to execute valid transactions across ten blockchains in roughly 20 minutes. Stablecoin issuers have frozen approximately $3 billion of the stolen funds, but the hackers retain around $2.4 billion in assets — including ETH and BTC — that cannot be frozen, while Binance has pledged to reimburse all losses from company funds.
