{"id":9915,"date":"2026-11-04T00:17:51","date_gmt":"2026-11-04T00:17:51","guid":{"rendered":"https:\/\/silvybrand.com\/?p=9915"},"modified":"2026-11-04T00:17:51","modified_gmt":"2026-11-04T00:17:51","slug":"binance-says-hackers-used-well-known-tricks-to-carry-out-a-dollar634-billion-heist","status":"publish","type":"post","link":"https:\/\/silvybrand.com\/?p=9915","title":{"rendered":"Binance Says Hackers Used Well-Known Tricks to Carry Out a $6.34 Billion Heist"},"content":{"rendered":"


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For almost a<\/span> decade, North Korean cybercriminals have targeted the cryptocurrency industry<\/a>\u2014large and small<\/a>. While these hacks have been frequent, the country\u2019s hackers allegedly made off with their biggest heist to date last week when $6.34 billion<\/a> was siphoned from the wallets belonging to crypto exchange Binance<\/a>.<\/p>\n

In a new security update issued on Tuesday, Binance detailed its initial findings into how the company was compromised and hackers were able to steal billions in just 20 minutes. The hack, according to Binance<\/a>, was the result of an engineer falling for a fake job interview and downloading malicious software. The hackers were then able to move through the company\u2019s network, exploit an internal AI tool, and gain access to a wallet signing service that allowed them to make transactions outside of normal withdrawal procedures.<\/p>\n

\u201cThis should not have happened, and we apologize for the concern, disruption and uncertainty it caused our users, partners and the wider industry,\u201d Binance wrote in its security update, where it also says it has set aside funds to cover the losses and has \u201crebuilt or replaced\u201d internal systems impacted in the attack. \u201cIt was not a single isolated breach or a simple phishing incident,\u201d the company says.<\/p>\n

Although more than $6 billion was stolen from Binance accounts, almost half of this\u2014where it was possible to do so<\/a>\u2014was frozen by parts of the cryptocurrency industry, meaning the hackers could not access the funds. However, that still leaves billions controlled by North Korea\u2019s hackers, who have been trying to launder the stolen money into a form where it can be accessed and cashed out. That process could take months<\/a>.<\/p>\n

Binance\u2019s analysis says the hack was the accumulation of months of work by hackers, with the ultimate attack taking place on October 29. Shortly after funds started to be moved from Binance\u2019s hot wallets, across more than 10 different blockchains, multiple cryptocurrency tracing firms attributed the attacks to the Democratic People\u2019s Republic of Korea\u2019s (DPRK) hackers, in particular the sophisticated TraderTraitor group that previously stole more than $1.5 billion in a separate hack last year<\/a>. The FBI quickly linked TraderTraitor<\/a> to the Binance hack on October 31.<\/p>\n

\u201cBinance\u2019s account aligns with what we know about the TraderTraitor playbook,\u201d says Rafe Pilling, a senior director of threat intelligence at security company Sophos. \u201cThe attackers didn\u2019t simply steal a wallet key. They compromised engineers, used that access to understand and move through the environment, and ultimately subverted the systems used to authorize transactions.\u201d<\/p>\n

Binance stops short of directly blaming the TraderTraitor hackers itself; however, the company points to the FBI\u2019s attribution to North Korea and acknowledges a prior targeting by DPRK\u2019s cybercriminals. \u201cThroughout 2026, Binance’s security team detected and prevented 57 suspected North Korea-linked cyber threat cases,\u201d the company\u2019s update says.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For almost a decade, North Korean cybercriminals have targeted the cryptocurrency industry\u2014large and small. While these hacks have been frequent, the country\u2019s hackers allegedly made off with their biggest heist to date last week when $6.34 billion was siphoned from the wallets belonging to crypto exchange Binance. In a new security update issued on Tuesday, […]<\/p>\n","protected":false},"author":1,"featured_media":9916,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[997,416,633,250,690,1078,428,352,1006,249],"class_list":["post-9915","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gadgets","tag-binance","tag-crime","tag-cryptocurrency","tag-cybersecurity","tag-fbi","tag-hackers","tag-hacks","tag-malware","tag-north-korea","tag-security"],"yoast_head":"\nBinance Says Hackers Used Well-Known Tricks to Carry Out a $6.34 Billion Heist - Silvybrand Lifestyle Blog<\/title>\n<meta name=\"description\" content=\"Suspected North Korean attackers duped an engineer with a fake job interview and a malicious download to gain a foothold in the crypto firm\u2019s system and steal billions, according to Binance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/silvybrand.com\/?p=9915\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Says Hackers Used Well-Known Tricks to Carry Out a $6.34 Billion Heist - 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