Blockchain intelligence firms attributed the historic $6.36 billion exploit to North Korean state-sponsored hackers, who were previously implicated by the FBI in a separate $1.5 billion exchange theft. Binance has already frozen roughly $3 billion of the stolen funds with assistance from ecosystem partners and confirmed user deposits remain safe. While withdrawals were paused briefly, the exchange clarified there is no evidence of private key compromises and expects normal operations to resume shortly.
Key points
State-sponsored cyber groups continue to execute massive digital asset heists against maj…: State-sponsored cyber groups continue to execute massive digital asset heists against major centralized platforms.
The exchange has contained nearly half of the stolen capital and expects to restore custo…: The exchange has contained nearly half of the stolen capital and expects to restore customer withdrawals within two days.
Platform security investigations revealed additional breach points but found no evidence…: Platform security investigations revealed additional breach points but found no evidence that private keys were exposed.
Sources checked by our analysis pipeline: 1
A U.S.-based blockchain intelligence firm says a North Korean unit was likely behind the hack that impacted more than $6 billion on Binance, the world's biggest cryptocurrency exchange.
Binance said it worked with blockchain partners to freeze roughly $3 billion in affected assets. It said Friday that it was beginning to recover assets for users.
The cryptocurrency exchange said deposits were unaffected, while withdrawals have been suspended and are expected to resume in the next day or two. It said it will cover all losses.
The company said on X that an initial investigation suggested the incident may have involved a compromised laptop, but that a subsequent investigation uncovered additional "points of breach."
TRM, in a post on its website Thursday, attributed the attack to TraderTraitor, which it described as North Korea's elite hacking unit. "We make this judgment with high confidence," the firm said.
"An attacker moved approximately USD 6.36 billion out of Binance wallets on ten blockchains, most of it in about 20 minutes," TRM said. That would make the hack the largest cryptocurrency theft on record, it…
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