World’s Biggest Crypto Exchange Hit by Record $6.3 Billion Hack
Suspected North Korean hackers took around $6.3 billion, which could make it the biggest ever crypto heist.
The world's largest cryptocurrency exchange, Binance, suffered a record $6.3 billion hack, raising concerns over the safety of hundreds of millions of people's money. North Korea's state-sponsored hacking group, TraderTraitor, was suspected of carrying out the breach, according to a blockchain analysis firm. Binance suspended withdrawals as crypto prices plummeted following the attack.
Kathryn Westmore, director of financial crime at UK Finance, stated that the hackers targeted users' security on personal devices, emphasizing that hackers only succeed when a person's device becomes compromised. Binance traced the hackers to a software engineer's compromised laptop, which allowed the breach. The attack's complexity highlights the importance of strong personal device security in preventing cyber attacks.
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Also reported by 1 other outlet
- How a $6 billion hack became the world's biggest crypto theft thenationalnews.com
