North Korean Hackers Linked to Record $6.3 Billion Binance Theft

The scale of the attack stands as potentially the largest theft in history, surpassing even the most significant traditional bank robberies. Following the breach, Binance suspended all withdrawals to contain the damage. The company has since pledged to cover the losses, confirming that it has already frozen roughly $3 billion in affected assets and set aside $6.34 billion in company funds to ensure user accounts remain whole.

While Binance continues its internal investigation, independent analysis from firms including Chainalysis and Elliptic aligns with the findings from TRM Labs. The attackers utilized 10 different blockchain networks to move the assets, a signature move that mirrors the tactics used in the $1.5 billion Bybit heist. Investigators noted that some stolen funds were traced to digital addresses previously linked to a suspected North Korean strike on the Bitget exchange.

Binance initially identified a compromised engineer's laptop as the potential point of entry for the unauthorized withdrawals. Subsequent scrutiny revealed multiple points of failure, prompting the firm to promise a comprehensive forensic report once the full scope is verified. Deposits have resumed, and the exchange anticipates that withdrawal functionality will be fully restored by early Saturday.