Menu

1 / 2

Binance loses $6.3 billion in largest crypto heist ever

Reading 0:00
15s threshold

Serving tech enthusiasts for over 25 years.

TechSpot means tech analysis and advice you can trust .

What we know so far: Binance, the world's largest crypto exchange, has suffered a cyberattack believed to be the largest crypto theft in history. Crypto worth more than $6 billion has been stolen from the platform, which initially suspended customer deposits and withdrawals. It's believed that a North Korean hacking unit was responsible for the attack.

Blockchain intelligence firm TRM Labs puts the haul at approximately $6.36 billion, taken from Binance wallets across ten blockchains on October 29. Most of the money was moved in about 20 minutes. The firm attributes the attack to TraderTraitor, a North Korean hacking unit, with high confidence.

There is some good news for customers. Binance says it has worked with blockchain partners to freeze roughly $3 billion in affected assets and will cover all losses. Deposits are now operating normally, although withdrawals remain suspended.…

Continue reading — create a free account

Join HashtagPLUS to read full articles, follow hashtags, vote, and join the conversation.