BREAKING: Binance $6.3B Hack - What We Know So Far
KEY POINTS:
1. Binance confirmed a security incident on Oct 29 and has suspended all deposits & withdrawals as a precaution. Binance says it will cover all losses and user funds are SAFU.
2. Around $6.36B was moved from Binance wallets across 10 chains in ∼20 mins according to TRM Labs. About $3B has been frozen so far with help from Tether, Circle, Ripple.
3. TRM Labs attributes the attack with "high confidence" to TraderTraitor, North Korea's elite hacking unit, same group behind the $1.5B Bybit hack in Feb 2025.
4. Initial investigation: compromised DevOps engineer's laptop used to submit unauthorized withdrawals.
5. Despite the size, analysts say no major solvency risk - Binance holds ∼$155B in assets.
Binance is working with law enforcement and will release a full post-mortem. Stay safe, don't click links.
Source: CNBC, TRM Labs, Binance Official X
#Binance #Security #CryptoNews #Breaking
KEY POINTS:
1. Binance confirmed a security incident on Oct 29 and has suspended all deposits & withdrawals as a precaution. Binance says it will cover all losses and user funds are SAFU.
2. Around $6.36B was moved from Binance wallets across 10 chains in ∼20 mins according to TRM Labs. About $3B has been frozen so far with help from Tether, Circle, Ripple.
3. TRM Labs attributes the attack with "high confidence" to TraderTraitor, North Korea's elite hacking unit, same group behind the $1.5B Bybit hack in Feb 2025.
4. Initial investigation: compromised DevOps engineer's laptop used to submit unauthorized withdrawals.
5. Despite the size, analysts say no major solvency risk - Binance holds ∼$155B in assets.
Binance is working with law enforcement and will release a full post-mortem. Stay safe, don't click links.
Source: CNBC, TRM Labs, Binance Official X
#Binance #Security #CryptoNews #Breaking