Binance just dropped their official breakdown on the Oct 29 hack. Here's the alpha:
$6.34B in assets got hit. Attackers breached an internal wallet signing service through compromised employee devices, social engineering, and malicious software. Last unauthorized transfer was Oct 29 at 23:56 UTC.
The good news: Binance is eating the loss, not users. 98% of impacted tokens already replenished as of Oct 31. $2.85B frozen or intercepted. Over 100% of required funds set aside.
Response: They rebuilt the wallet system from scratch, decommissioned compromised credentials, replaced affected devices, and upgraded AI-based anomaly detection. Independent cybersecurity audit underway.
FBI confirmed North Korea behind the attack. Investigation ongoing.
This is why custody matters. This is why you don't keep everything on one exchange. Binance took the L this time, but not every platform will.
$6.34B in assets got hit. Attackers breached an internal wallet signing service through compromised employee devices, social engineering, and malicious software. Last unauthorized transfer was Oct 29 at 23:56 UTC.
The good news: Binance is eating the loss, not users. 98% of impacted tokens already replenished as of Oct 31. $2.85B frozen or intercepted. Over 100% of required funds set aside.
Response: They rebuilt the wallet system from scratch, decommissioned compromised credentials, replaced affected devices, and upgraded AI-based anomaly detection. Independent cybersecurity audit underway.
FBI confirmed North Korea behind the attack. Investigation ongoing.
This is why custody matters. This is why you don't keep everything on one exchange. Binance took the L this time, but not every platform will.
