Official Details Just Released! 🚨
Binance held media briefing TODAY Nov 3 - here is full breakdown of $6.3B hack:
WHO?
North Korea TraderTraitor group (Lazarus Group) - confirmed by FBI with high confidence. TRM Labs + Chainalysis same attribution.
HOW? Months-long campaign:
June 2026: Wallet DevOps engineer tried to install AI coding tool - downloaded tampered Homebrew installer - first compromise
September: Same engineer contacted via legit job platform by fake Project Director - fake interview with malware - device fully compromised
Oct 20: Attackers used compromised machine + internal AI tool to access 2 wallet engineers' devices, found container deployment permission
Oct 29 20:05 UTC: Used stolen credentials to deploy malicious container, exploited EIP-7702 to gain execution rights over Binance hot wallet (Binance 14). Because hot wallets use MPC, no single key could revoke. Funds left: $6.36B across 10 blockchains in just 20 minutes!
Containment only at 00:10 UTC Oct 30.
HOW MUCH?
Total stolen: $6.3-6.36B (largest ever, 4x Bybit $1.5B)
Frozen: $2.85B - $3B total
Tether froze $1.6B USDT
Circle froze $800M+ USDC
Arbitrum Security Council froze 8,426 ETH + 74.6M ARB
Still controlled by hackers: ∼$3.28B mostly $BTC + $ETH
RECOVERY:
Binance set aside $6.34B from treasury + SAFU ($1B BTC reserve)
Now 95% replenished → briefing today says 98%!
10 assets fully backed: BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, ZEC
$4.65B withdrawals processed Nov 1 in 9.5 hrs, only 2.1% outflow
Phase 2 reopening Nov 3 04:00 UTC - 9 networks, 51+ tokens
WHAT BINANCE DID AFTER:
Closed entry points, rebuilt affected systems
Strengthened device controls, expanded AI anomaly detection
Blocked 57 suspected North Korea attacks in 2026 alone!
Bringing independent cybersecurity experts for review
Users will NOT bear loss
NEXT RISK: Phishing! Security firms warn fake compensation, support, recovery offers. Binance says NEVER click links offering expedited withdrawals.
Binance COO Richard Teng: "This was a campaign, built over many months"
This is why exchange security is nation-state level war.
Respect to Binance for transparency + covering 98% in 5 days.
Is Binance safest exchange now after this test?
$BNB #TraderTraitor #SAFU #BinancePick