₿🪙 Crypto is the shitty bubble that needs to burst
The Guardian: FBI working with Binance after crypto exchange hit by $6.3bn heist:
Blockchain intelligence firm TRM says North Korea’s TraderTraitor hacking unit is responsible for the largest crypto theft on record
Hackers have stolen $6.3bn from Binance, the world’s biggest cryptocurrency exchange, in what could be the largest theft ever.
The attack saw more than $6bn of crypto assets taken from Binance’s own ‘hot wallet’, apparently after a laptop belonging to one of Binance’s development and operations engineers was compromised.
Binance has committed to cover losses from its company funds, and says it is working with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.
The FBI have said it is:
“aware of the incident and is engaged with relevant public and private partners to understand the scope of the activity, evaluate potential impacts, and coordinate appropriate investigative steps”.
The UK’s financial watchdogs are also monitoring for any potential fallout from the Binance heist.
Co-CEO Richard Teng has said this afternoon that the attacker used a self-destruct mechanism that destroyed tooling and traces as they went.
Teng also said Binance was conducting a full security review, and pledged:
“We will do everything in our power to make sure that these bad actors are held accountable.”
Security experts said the hack was probably carried out by TraderTraitor, an elite North Korean hacking unit.
Chainalysis said the hackers appeared to be using “never-seen-before laundering patterns” to avoid the stolen funds being frozen, by switching stablecoins into non-freezable assets such as Ethereum.
Crypto assets have dropped in value since news of the hack broke last night.
Here’s the damage over the last 24 hours, from
- Bitcoin: down 5.3% at $77,503.39
- Ethereum: down 6% at $2,216.25
- BNB: down 6.5% at $699.13
- Solana: down 7.7% at $94.57
It might be for the first time that the murderous regime in DPRK has done something good for this planet!
TRM Labs: North Korea Steals USD 6.36 Billion From Binance in the Largest Hack in History.