Crypto Hackers Steal $6.3 Billion From Binance in 'Largest Bank Heist in Human History'

In a monumental cyber heist dubbed the "largest bank robbery in human history," Binance, the world's largest cryptocurrency exchange, suffered a staggering $6.3 billion loss on Thursday. According to insiders, about $3 billion of the stolen assets have been identified and frozen across various exchanges, but their recoverability remains uncertain. Binance announced that customer withdrawals should resume by Sunday, though deposits remain unaffected and operational as usual.

Richard Teng, co-CEO of Binance, revealed during a Friday interview that the investigation suggests more than one hacker was involved in the "complex attack." The intruder employed a self-destruct mechanism, complicating efforts to trace and investigate the incident. Teng assured customers that their assets are secure.

The victimized party in this cybercrime was Binance's corporate entity, not individual users. North Korean hacktivists, known as TraderTraitor, are currently the primary suspects behind the attack, according to The New York Post. TRM Labs and industry insiders report that the hackers infiltrated Binance wallets within a mere 20 minutes, starting at 4:30 p.m. ET on Thursday, exploiting a vulnerability found in an engineer's laptop.

The US Secret Service has joined the efforts to track the stolen cryptocurrency funds. The brazen heist sent shockwaves through the cryptocurrency markets, causing significant drops in the prices of Bitcoin and Ether on Friday.