North Korea-linked hackers steal $6.36 billion from Binance
By the AFREEQUE newsroom, based on The Maravi Post
Illustrative image · Bastian Riccardi · Pexels · Licence PexelsThe cryptocurrency platform Binance suffered a hack attributed with a high degree of confidence to the North Korea-linked TraderTraitor group, with approximately $6.36 billion stolen. Nearly $3 billion was frozen and Binance promises to compensate users from its reserves, according to investigations by companies specialising in blockchain analysis.
North Korea-linked hackers stole approximately $6.36 billion in a cyberattack against Binance, a global cryptocurrency exchange, The Maravi Post reports, based on investigations by companies specialising in blockchain analysis. The attack, reported on 29 October, has been attributed with a high degree of confidence to the hacking group TraderTraitor.
The funds were transferred across 10 blockchain networks, with most of the transactions taking place within about 20 minutes. Approximately $3 billion was frozen through cooperation between cryptocurrency companies and other industry players. Some $2.4 billion, however, is reportedly still under the hackers’ control.
Binance said its customers would not bear the losses and promised to compensate them from its internal reserves. The platform also said it had begun returning the affected assets. The announced amount is higher than the initial estimate of $2 billion mentioned when Binance suspended withdrawals after a hack estimated at $2 billion, reported on 29 October.
