What to know about the $6.3B hack on Binance, likely the biggest-ever crypto theft
Summary
Binance said hackers stole more than $6 billion from its cryptocurrency wallets, a theft that blockchain firms described as the largest on record. Binance said it had set aside more than $6.34 billion to cover losses and was working with partners to freeze assets and recover funds. Blockchain firms suspect a North Korean hacking group, while U.S. officials are investigating.Key Facts
- Binance said more than $6 billion in assets were stolen.
- The exchange said it reserved more than $6.34 billion in company funds to cover the stolen assets and promised to cover users’ losses.
- Binance and blockchain partners froze roughly $3 billion in affected assets.
- TRM said an attacker moved about $6.36 billion from Binance wallets across 10 blockchains, mostly within about 20 minutes.
- TRM and Chainalysis said the attack was likely carried out by TraderTraitor, a hacking group they link to North Korea.
- Binance said its initial investigation pointed to a compromised laptop and later found additional points of breach.
- President Donald Trump said U.S. officials were investigating the hack and responded to a question about North Korea by saying, “We’re looking at that.”
- TRM and other experts described the theft as the largest cryptocurrency heist on record; the article cites the $1.5 billion Bybit hack as a previous major theft.
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