Binance investigates reported $6.3bn cryptocurrency theft

Crime · First reported 30 Oct, 08:02 · Updated 08:09

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Binance says it is investigating a major theft, has suspended customer deposits and withdrawals, and will cover losses. The Independent reports that blockchain analysis firm TRM Labs attributed the attack to a North Korean hacking unit; the BBC snippet describes it as a suspected record-breaking hack.

Binance said its initial investigation pointed to a compromised engineer’s laptop and unauthorised withdrawal transactions.
TRM Labs attributed the attack to North Korean group TraderTraitor; Binance said it found no evidence of a private-key leak.
Binance said customer funds were safe and it would cover losses, while the article reports Bitcoin fell after the incident.

Summary written by Lux AI from 2 articles

Key facts

Reported amount: More than $6.3bn
Exchange: Binance
Reported attribution: TRM Labs attributed the attack to TraderTraitor, a North Korean hacking unit
Binance response: Deposits and withdrawals were suspended; Binance said it would cover the losses
Possible access route: Binance’s initial investigation suggested a compromised engineer’s laptop