Crypto exchange Binance freezes assets after $6.3bn 'complex' security breach
Cryptocurrency platform Binance said Friday it was working to resolve a “complex attack” that hit around $6.3 billion in funds, with about half that amount frozen to prevent a massive theft. The company — the world’s largest crypto exchange by daily trading volumes — said investigations had “uncovered additional points of breach”, contrary to initial findings that suggested the hack involved a…
On Friday, cryptocurrency exchange Binance announced it was working to resolve a complex attack that had compromised around $6.3 billion in funds, with approximately half frozen to prevent potential theft. The firm, the world's largest crypto exchange by daily trading volumes, revealed it had uncovered additional breach points, contradicting initial reports suggesting a single compromised laptop was responsible.
Binance confirmed that around $3 billion in affected assets were frozen, with the figure potentially increasing as they collaborated with law enforcement, issuers, blockchain intelligence firms, and industry partners. The company warned that the total impact could still rise as investigations progressed. The 2023 Bybit heist, which resulted in $1.5 billion in losses, was attributed to a North Korean hacker group called TraderTraitor, and blockchain investigation firm TRM Labs stated it had high confidence that Binance was also targeted by this group.
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- Crypto exchange Binance freezes assets after $6.3bn 'complex' security breach dawn.com
- Crypto giant Binance hit by ‘largest hack in history’ cityam.com
- Binance estimates $6.3B impact from security breach, freezes $3B in crypto assets yourstory.com
- Crypto's longtime foe, North Korea's Lazarus Group, likely behind Binance hack: blockchain sleuths coindesk.com
