Financial Times : Chainalysis says Binance hackers used automated money-laundering patterns not seen before; Elliptic: almost all of the $6.3B was taken in the first 30 minutes — North Korean hackers' attack on Binance takes crypto theft to an unprecedented scale — The largest financial theft in history took no more than 30 minutes.
Chainalysis says Binance hackers used automated money-laundering patterns not seen before; Elliptic: almost all of the $6.3B was taken in the first 30 minutes (Financial Times)
In short
The historic intrusion targeted cryptocurrency platform Binance, resulting in the theft of billions of dollars by North Korean operatives. Analytics experts at Elliptic noted that the vast majority of the $6.3 billion haul was drained during the opening 30 minutes of the attack. Investigators from Chainalysis subsequently discovered that the actors used never-before-seen automated money-laundering patterns to conceal their massive illicit gains.
Key points
- The targeted cyberattack on Binance represents the largest financial theft recorded in hi…: The targeted cyberattack on Binance represents the largest financial theft recorded in history.
- Rapid execution allowed the perpetrators to secure the vast majority of funds almost imme…: Rapid execution allowed the perpetrators to secure the vast majority of funds almost immediately.
- The deployment of novel automated laundering marks an escalation in the sophistication of…: The deployment of novel automated laundering marks an escalation in the sophistication of crypto crime.