North Korean Hackers Blamed for Record $6.36 Billion Binance Theft

A U.S. cybersecurity firm has reported that North Korean hackers are responsible for a staggering $6.36 billion theft from Binance, the world's largest cryptocurrency exchange. This incident marks the largest cryptocurrency theft recorded to date.

According to TRM Labs, the attack was likely executed by a hacking group known as TraderTraitor, which managed to siphon digital assets from Binance across ten different blockchain networks in a swift operation that lasted approximately 20 minutes. The firm expressed high confidence in its findings based on detailed analyses of cryptocurrency transactions.

The hackers reportedly prepared for the attack at least 36 hours in advance, gaining unauthorized access to systems that authorized cryptocurrency transfers. Despite efforts to freeze around $2.7 billion of the stolen assets through cooperation among various cryptocurrency firms, approximately $2.4 billion remains under the hackers' control, primarily in Bitcoin and Ethereum.

Richard Teng, co-CEO of Binance, reassured users that the company is committed to covering all losses incurred from the hack, stating that over $6.34 billion has been reserved to address the situation. Meanwhile, U.S. officials, including President Donald Trump, have acknowledged the ongoing investigation into the incident, emphasizing the need to understand its implications and coordinate appropriate responses.