Binance suffered the largest crypto hack on record, with investigators attributing the $6.3 billion theft to North Korean hackers
Binance was hit on Thursday by the largest crypto hack to date, with blockchain investigators estimating that over $6 billion in assets were stolen. Initial investigations by Binance pointed to a compromised DevOps engineer's laptop and unauthorized access to a service container, though co-CEO Richard Teng described the attack as more complex than a single employee's permissions compromise. Blockchain investigators from Chainalysis, Elliptic, and TRM Labs have attributed the attack to North Korean hacking groups, with TRM explicitly linking it to the same group connected to the $1.5 billion Bybit hack. The attackers reportedly exploited Binance's internal systems and hot-wallet signing mechanisms to move funds across multiple blockchains, staging the attack for at least 36 hours prior to the theft. Binance has approximately $5 billion in affected assets and is acquiring another $1.3 billion to cover losses, targeting Monday to publish its initial proof-of-reserves report and hoping to restore withdrawals within 40 hours of Friday.
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