Binance confirms $6.3bn cryptocurrency theft in record heist
Original title: Binance Hit by Record-Breaking $6.3bn Hack in Largest Cryptocurrency Heist in History
The exchange froze about $3bn, paused withdrawals, and says customer funds are covered; three firms blame TraderTraitor.
Binance said on October 30 that attackers stole $6.3bn in cryptocurrency, which it called the largest cyber-attack in history. It froze $3bn and said losses will be covered by its Secure Asset Fund for Users and company funds. An early theory of a compromised DevOps laptop was later revised; Binance says it found no leaked wallet private keys and will publish a post-mortem. TRM Labs, Elliptic and Chainalysis attribute the theft with high confidence to North Korean group TraderTraitor. Withdrawals remain suspended while deposits have resumed.
Unconfirmed: Binance has not given a definitive intrusion path; TraderTraitor attribution is the firms’ high-confidence assessment, not Binance’s.
- Unauthorized outflows stopped after withdrawals were paused.
- Withdrawals may resume within 45 hours after a security revamp.
- Binance revoked affected address authorisation and is tracing assets.
- It warned customers not to trust unofficial links or account requests.
- An updated proof of reserves is promised after remediation.
Impact: Theft of $6.3bn in cryptocurrency from Binance
- 1.Ignore unofficial links, messages, and requests for account information.
- 2.Use only Binance official channels and contact Binance Customer Support with questions.
- ATT&CK
- T1657 Financial Theft
- Threat actors
- TraderTraitor
- Victims
- Binance
- Organizations
- TRM LabsEllipticChainalysis
- Countries
- North Korea
From the original article
2 min read at infosecurity-magazine.com
Leading cryptocurrency analysts have attributed the cyber-attack to a North Korean elite hacking unit
By Kevin Poireault · infosecurity-magazine.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.