Who was behind the largest crypto heist in history?
Almost $9 billion in cryptocurrency was hacked from exchange company Binance, but who was behind the attack and where is the money?
In the largest cyber attack in cryptocurrency history, nearly $9 billion was stolen from exchange company Binance in a matter of 20 minutes, according to blockchain records. The heist affected 30 to 40 different tokens, including Ethereum, Bitcoin, and stablecoins, though the exact culprit remains unidentified. However, many analysts have pointed the finger at a cyber unit in North Korea, which has previously carried out similar hacks.
TRM Labs, a US blockchain analysis firm, attributes the attack to North Korea’s elite hacking unit, TraderTraitor, based on robust on and off-chain intelligence. Binance, the largest exchange in the cryptocurrency space by volume, has said customer funds are safe and is working to recover $4.2 billion of the funds it froze following the attack.
The company has also committed to covering losses through its own funds, with roughly half of the stolen coins already frozen by issuers.
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