Attackers initiated the operation months earlier by tricking personnel into downloading malicious code via a search advertisement and a virtual hiring meeting. On October 29, the perpetrators executed the theft by draining 233.46 million XRP tokens within four minutes before moving on to bitcoin and other assets. Although the exchange halted withdrawals and froze approximately $2.85 billion in digital assets, the attackers continued processing 50 signing transactions over nearly four hours. The company is now establishing a security research fund and partnering with AI firms to bolster threat detection.
Key points
Binance has formally pledged to repay all customers who suffered losses from the massive…: Binance has formally pledged to repay all customers who suffered losses from the massive cyberattack.
Federal investigators from the FBI have officially linked the record cryptocurrency breac…: Federal investigators from the FBI have officially linked the record cryptocurrency breach to North Korean hackers.
The exchange plans to bolster future defenses through AI threat detection investments and…: The exchange plans to bolster future defenses through AI threat detection investments and partnerships with artificial intelligence firms.
Sources checked by our analysis pipeline: 1
PARIS/DETROIT, Nov 3 : Hackers used a bogus job interview and software hidden in an advertisement to compromise the computers of two Binance software engineers before using a third's computer to drain $6.3 billion worth of crypto in last week's record heist, the exchange said on Tuesday.
In its initial report on how hackers pulled off what could be the largest-ever financial theft, Binance detailed a multi-stage hacking endeavour that began in June and set off a series of security breaches culminating in the theft on Thursday.
Even as Binance scrambled to lock down its system and freeze withdrawals after detecting the attack late on Thursday, the hackers were still making off with crypto from the exchange nearly four hours after the first theft, Binance said.
The FBI has blamed a North Korean hacking group, a claim North Korea has rejected. Binance has said it is repaying all customers whose funds were stolen.
The attack has raised questions about how hackers breached the world's largest crypto exchange after years of North Korea-linked attacks, which have grown in ambition and frequency,…
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