{
  "id": 17223180,
  "title": "Gone in 20 minutes: How the biggest heist in crypto history unfolded",
  "url": "https://urgent.news/2026/10/30/gone-in-20-minutes-how-the-biggest-heist-in-crypto-history-unfolded",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T12:18:13.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/binance-cryptocurrency-heist-biggest-20-minutes-explainer-6506676"
  },
  "original_language": "en",
  "account": "In a record-breaking theft, hackers breached Binance, the world's largest cryptocurrency exchange, draining around US$6.3 billion from wallets. According to Binance and blockchain analysis, the attack occurred in roughly 20 minutes, starting around 8pm GMT on Thursday (Oct 29). The exchange operates a US$1 billion Bitcoin reserve, designed to protect customers during security breaches, yet this time, the losses will be covered by the fund and company resources. Co-CEO Richard Teng stated that half of the stolen assets have been frozen by stablecoin issuers, including Tether, Circle, Ripple, and World Liberty Financial. While the attackers have not yet been identified, blockchain records show similarities to previous operations attributed to North Korean hackers. The stolen funds, primarily in the form of stablecoins, are at risk of being frozen and converted into other assets. Experts predict that the attackers will likely attempt to hide the proceeds in lesser-known exchanges or use blacklisted coins, making it increasingly difficult to trace and recover the stolen assets. This incident further highlights the vulnerabilities in the cryptocurrency sector and the need for improved security measures.",
  "summary": "\"The attacker may not have stolen the vault key, they may have hijacked the system that tells the vault to release money,\" says a lawyer who works on crypto cases.",
  "key_points": [
    "Hackers steal $6.3 billion from Binance in 20 minutes",
    "Attack occurred on Oct 29 at 8pm GMT",
    "Half of stolen assets frozen by stablecoin issuers"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Explainer: Gone in 20 minutes, how the biggest heist in crypto history unfolded",
        "url": "https://urgent.news/2026/10/30/explainer-gone-in-20-minutes-how-the-biggest-heist-in-crypto-history",
        "published": "2026-10-30T10:43:00.000Z"
      },
      {
        "outlet": "New Scientist",
        "title": "How did the biggest crypto heist in history just happen?",
        "url": "https://urgent.news/2026/10/30/how-did-the-biggest-crypto-heist-in-history-just-happen",
        "published": "2026-10-30T12:40:12.000Z"
      },
      {
        "outlet": "WSJ Markets",
        "title": "How Binance Is Scrambling to Cover Losses in the Biggest Heist in Crypto History",
        "url": "https://urgent.news/2026/10/30/how-binance-is-scrambling-to-cover-losses-in-the-biggest-heist-in",
        "published": "2026-10-30T13:07:00.000Z"
      },
      {
        "outlet": "France 24",
        "title": "How the record-breaking $6.3 billion heist in crypto history unfolded",
        "url": "https://urgent.news/2026/10/30/how-the-record-breaking-6-3-billion-heist-in-crypto-history-unfolded",
        "published": "2026-10-30T13:52:44.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}