From MercoPress · · 1m
Binance Crypto Heist
Hackers steal $6.3 billion from Binance in sector's biggest crypto heist.
In brief
Hackers steal $6.3 billion from Binance in sector's biggest crypto heist. Hackers stole $6.3 billion in cryptocurrency from Binance, the world's largest digital asset exchange, in the biggest theft in the sector's history. Originally reported by MercoPress.
Binance Heist
Hackers stole $6.3 billion in cryptocurrency from Binance, the world's largest digital asset exchange, in the biggest theft in the sector's history.
“Hackers stole about US$6.3 billion in cryptocurrency from Binance, the world's largest digital asset exchange, in the biggest theft in the sector's history”
Attack Speed
The theft occurred in about 20 minutes from 20:05 GMT on Thursday, with attackers using pre-prepared signatures to authorise transfers.
“Most of the theft took place in about 20 minutes from 20:05 GMT on Thursday”
North Korea Link
Blockchain analytics firms point to a North Korea-linked group called TraderTraitor, also known as Lazarus.
“Blockchain analytics firms point to a hacking group linked to North Korea”
Binance Response
Binance says customer losses will be covered by a $1 billion bitcoin reserve and its own resources, with withdrawals suspended until about 40 hours later.
“Binance co-chief executive Richard Teng said the attack was not carried out by one person”
Funds Recovery
The US Secret Service is working around the clock with the private sector to identify, freeze, trace, and recover the stolen funds.
“The Secret Service, the federal agency responsible for financial crimes, said it was working around the clock with the private sector to identify, freeze, trace, and recover the funds”
At a glance
Hackers stole $6.3 billion in cryptocurrency from Binance, the world's largest digital asset exchange, in the biggest theft in the sector's history.
