As it happened: Binance’s record $6.3B crypto hack How Binance’s $6.3 billion hack unfolded, from the first onchain alerts to $3 billion in frozen funds and a widening security investigation.
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The updates below document Cointelegraph’s reporting on the record $6.3 billion Binance hack as events unfolded. What we know about the Binance hack: – Binance says the estimated total impact is around $6.3 billion and the verified total value of crypto frozen is $3 billion. This could increase as investigators trace additional assets. – Binance says deposits are operating normally, and withdrawals are expected to resume as scheduled. – Assets frozen include Tether USDt (USDT), USDC (USDC), Ripple USD (RLUSD), World Liberty Financial USD (USD1), StraitsX USD (XUSD), USDT0 (USDT0), Wrapped Beacon ETH (WBETH), Tether Gold (XAUT), Pax Gold (PAXG), Pax Dollar (USDP) and Arbitrum (ARB). – Cybersecurity analysts suspect North Korea’s TraderTraitor is behind the attack. – Binance says investigators have uncovered additional points of breach after initially pointing to a potentially compromised engineer’s laptop. – Binance says it has set aside more than $6.34 billion in company funds to cover losses, including $5 billion already held in the same tokens stolen.
Oct. 30 at 2:34 pm UTC Binance targets withdrawals within 40 hours, reserves Binance is aiming to resume withdrawals within 40 hours and publish a full proof-of-reserves . Teng said the exchange hopes to restore access before its Sunday deadline and provide an initial reserves snapshot ahead of Monday’s report. Teng also disclosed that the attacker used a “self-destruct mechanism” to destroy tools and traces during the breach, complicating the investigation.