Blockchain forensics firms suspect an elite North Korean hacking unit is behind the massive breach of internet-connected hot wallets spanning at least ten separate networks. The exchange has committed to reimbursing all impacted user funds and teamed up with industry partners to restrict a substantial portion of the loot. However, a significant amount of the stolen digital currency may be permanently lost as investigations into the multi-point intrusion continue. Investigators also revealed that the perpetrators laid the groundwork at least 36 hours before executing the breach by running code tests on multiple wallets.
Key points
Crypto tracing firms Chainalysis, Elliptic, and TRM Labs suspect North Korea's elite Trad…: Crypto tracing firms Chainalysis, Elliptic, and TRM Labs suspect North Korea's elite TraderTraitor group carried out the operation.
Binance has formally pledged to cover all customer financial losses while treating a comp…: Binance has formally pledged to cover all customer financial losses while treating a compromised laptop as an initial point of breach.
The single intrusion would nearly double North Korea's historical cryptocurrency theft to…: The single intrusion would nearly double North Korea's historical cryptocurrency theft total if official attribution confirms the analysts' findings.
Sources checked by our analysis pipeline: 1
Cryptocurrency firms and investigators are racing to freeze and track down billions of dollars of stolen digital cash following what appears to be the largest crypto heist of all time. On Thursday, starting at around 4pm ET, hackers started quickly siphoning around $6.3 billion in cryptocurrencies, spread across multiple blockchains, from wallets belonging to crypto exchange Binance.
Following the theft, Binance almost immediately suspended all deposits and withdrawals from its services as part of its investigation into the hack and says it is working to identify who was behind the breach. The company, along with other crypto firms, says it has so far been able to freeze around half of the stolen funds—essentially stopping hackers moving the money further or trying to cash it out. Much of the remaining crypto may not be possible to freeze, however.
Three crypto tracing firms have been quick to link the attack potentially to North Korean hackers. “We think North Korea is likely responsible,” Tom Robinson, chief scientist and cofounder of Elliptic, tells WIRED. “If North Korea is behind it, this one theft would…
Investors tracking corporate actions must hold shares prior to Monday's deadline to secure upcoming cash distributions from these four firms. The scheduled payouts arrive following broad pre-record date sell-offs, with every firm recording losses during Friday's trading session on the BSE. Payout sizes vary significantly, spanning from modest interim rewards to substantial double-digit distributions.
Market participants are tracking negative price action as the fund faces selling pressure during today's trading session. This downward movement reflects shifting market dynamics directly impacting the valuation of the crypto-focused investment vehicle. Investors are closely monitoring the fund to assess the broader implications for digital asset holdings.
Market participants are actively scrutinizing trading activity after the major tech fund experienced an unexpected sharp downturn during today's session. Concrete catalysts behind the sudden drop have not yet been disclosed to the public. Investors are currently seeking clarification regarding exact figures and potential ripple effects across the sector.