crypto hack2 articles
North Korea's TraderTraitor Suspected Behind $6.3 Billion Binance Raid
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.
North Korean Hackers Drain $6.3 Billion from Binance in Biggest Theft in History
Binance, the world's largest cryptocurrency exchange, suffered a record-breaking hack in which approximately $6.3 billion was stolen, with the attack tentatively linked to a North Korean hacking unit called TraderTraitor. Around $3 billion in assets were frozen by stablecoin issuers, but hackers successfully converted roughly $3.3 billion into assets that cannot be frozen. Binance has suspended withdrawals, reserved over $6.34 billion in company funds to cover losses, and is working with law enforcement, with co-chief executives assuring customers that their money is safe.