Reported by 5 outlets
The story so far
AI summary of the reporting below · Updated · How we work
Binance has revealed that North Korean hackers stole $6.3 billion in cryptocurrency after targeting a company engineer with an elaborate fake recruitment scheme. The FBI attributed the breach to TraderTraitor, a hacking operation linked to North Korea's Lazarus Group. While Binance initially suspended withdrawals across its network following the historic attack, it has since reopened transactions, prompting billions of dollars in outflows as users pulled their funds. [2][4][5]
According to Binance, hackers posing as recruiters held two job interviews with a wallet team software engineer before delivering a malicious coding assignment. Binance said its security tools failed to detect the malware, which allowed the intruders to access internal tools and eventually take over the computer of a colleague authorized to control billions in crypto assets. Binance stated that the incident should not have happened, noting it has brought in outside cybersecurity experts and overhauled network protections. [2]
The heist triggered massive movements on the exchange, with customers withdrawing $4.649 billion in under 10 hours after services resumed on November 1, against roughly $1 billion in deposits. Binance co-CEO Richard Teng promised customers would not bear the financial loss, and the company confirmed it used its own reserves to cover the shortfall alongside roughly $3 billion frozen in transit. North Korean official Kim Yo Jong denied the allegations, calling the FBI's claims a sinister attempt to damage the nation's reputation. [4][5]
Cryptocurrency exchange Binance says North Korean hackers used a fake job interview to trick an employee into installing malware that ultimately let them compromise the company's wallet infrastructure and steal about $6.34 billion in digital assets.
via BleepingComputer
Plenty of users still happy to deposit their funds into the cryptocurrency exchange nevertheless.
via PC Gamer
Cybersecurity experts have long warned of the persistent and patient threat from North Korea's long-running hacks. The world's largest crypto exchange was still caught off-guard.
via TechCrunch
Exchange scrambles to replace stolen funds as customers withdraw billions and hackers get busy laundering their haul
via The Register
Suspected North Korean attackers duped an engineer with a fake job interview and a malicious download to gain a foothold in the crypto firm’s system and steal billions, according to Binance.
via WIRED