COINNEWSNorth Korea Suspected in $6.3 Billion Binance Hack
American analytics firms TRM Labs and Chainalysis have pointed with a high degree of certainty to the involvement of North Korean hackers in the large-scale attack on cryptocurrency exchange Binance.
Investigation Details
The attackers withdrew most of the stolen funds in just 20 minutes. Preliminary data indicates that access to internal systems was gained through a compromised laptop belonging to one of the company's engineers.
Total damages are estimated at $6.3 billion. Binance partners managed to identify about $3 billion in stolen assets and freeze them, but the whereabouts of the remaining $3.3 billion remain unknown.
The exchange is actively cooperating with the FBI and the U.S. Secret Service, providing full assistance in conducting the investigation into the incident.
Market Consequences
According to experts, this incident could seriously affect the reputation of centralized crypto exchanges and overall user trust in them.
At present, Binance management has not officially confirmed who is behind this largest attack in the history of the crypto market.
