It Took Hackers Just 20 Minutes to Steal $6.3 Billion in Crypto from a Single Platform
Researchers say "North Korea's elite hacking unit" is to blame. The post It Took Hackers Just 20 Minutes to Steal $6.3 Billion in Crypto from a Single Platform appeared first on Futurism .
Binance, the leading crypto exchange, announced on X-formerly-Twitter that elite hackers had stolen a massive $6.3 billion in digital assets from its platform in just 20 minutes. TRM Labs, a crypto research firm, reported with "high confidence" that the theft was carried out by North Korea's elite hacking unit. Binance managed to freeze approximately $3 billion in assets in collaboration with its partners, while TRM estimates that around $2.4 billion in assets were permanently lost.
Initially, Binance suspected a single compromised employee laptop, but later investigations revealed a more elaborate attack. The exchange pledged to cover all losses using its reserve funds, and Binance founder Changpeng "CZ" Zhao assured users that their funds were safe. Zhao, a prominent figure in the crypto world, faced legal troubles in the past and was pardoned by President Donald Trump in 2024.
Binance's biggest heist to date was surpassed by this unprecedented attack, which also occurred on Binance's rival Bybit, an event perpetrated by North Korean hackers who stole $1.5 billion last February.
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