North Korea blamed for $9 billion Binance hack
US analysts link a $9 billion cryptocurrency theft to North Korea's elite hacking unit. The theft happened at the world's largest exchange.
Binance, the world's largest cryptocurrency exchange, suffered a security breach. The impact is estimated at $9 billion.
Analysts blame North Korean hackers. US blockchain analysis firm TRM attributed the attack to TraderTraitor, North Korea's elite hacking unit.
TRM made this judgment with high confidence. The attackers stole most of the money in about 20 minutes.
Binance has located and frozen about $4.3 billion of the affected assets. But $4.7 billion remains unaccounted for.
Stablecoin providers Tether and Circle also froze funds. Tether froze about $2.1 billion.
Circle froze about $1.1 billion. Binance co-founder Yi He said the company would cover "all hacking losses".
The exchange temporarily suspended trading on its Alpha platform. Security teams reviewed all relevant information.
- $9 billion
- Total impact
- About 20 minutes
- Theft duration
- $4.3 billion
- Recovered amount
- TraderTraitor
- Hacking unit
Why it mattersCrypto users face serious questions about exchanges. Are assets held on the largest platforms truly safe from state-sponsored hackers?
AustraliaAustralian investors holding cryptocurrency on Binance face uncertainty about whether their holdings are affected and whether losses will be recovered.
Corroborated byperthnow.com.au
✓ Claims checked against the source and corrected before publish. checked 2 h ago
