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[TECHNOLOGY] · North Korea · 762 sources (showing 100)

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Binance investigates massive $6.3 billion security breach FAST-MOVING

Binance, the world’s largest cryptocurrency exchange, is investigating a major security breach with an estimated impact of approximately $6.3 billion. Preliminary findings suggest that attackers may have gained unauthorized access to the system through a compromised laptop belonging to a DevOps engineer, allowing them to access a service container and execute unauthorized withdrawals.

Blockchain intelligence firms, including TRM Labs and Chainalysis, have linked the incident to TraderTraitor, a cybercrime operation associated with North Korean hackers. The attackers reportedly moved assets across 10 different blockchains, including Bitcoin, Ethereum, Tron, and Solana, within a 20-minute window. While stablecoin issuers Tether and Circle have successfully frozen approximately $1.57 billion in USDT and $823 million in USDC respectively, significant amounts of native assets like Bitcoin and Ethereum remain in attacker-controlled wallets.

Binance has temporarily suspended all deposits and withdrawals to conduct security checks. The company stated that user funds are safe and has committed to covering all losses using its own corporate funds and the Secure Asset Fund for Users (SAFU).

Entities

Binance · Bitcoin · Chainalysis · Changpeng Zhao · Circle · Coinglass · Ethereum · Ethereum · Etherscan · North Korea · Paolo Ardoino · Ripple

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