After a $6.3 billion hack, the company said it was going to reimburse customers who have losses.

© Anthony Kwan/Bloomberg

The largest cyber heist in history came as attackers increasingly use artificial intelligence and other advanced techniques to steal crypto and quickly launder the funds.

© Tyrone Siu/Reuters

Cryptocurrency theft is estimated to generate half of the country’s foreign currency income

North Korea plays by its own rules. The isolated, secretive and autocratic country is largely cut off from the world’s economic system – but when it comes to generating foreign earnings it relies on some of the world’s most sophisticated hacking.

Experts, such as TRM Labs, quickly attributed the extraordinary $6.3bn (£4.7bn) Binance cryptocurrency theft to TraderTraitor, an elite North Korean hacking unit that has also been known as the Lazarus Group. Though the link may not be proven yet, the pattern of behaviour is familiar.

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© Photograph: AP

© Photograph: AP

© Photograph: AP

Hackers made off with around $6 billion in digital currency in what could be the biggest crypto heist in history. Binance said it will cover the losses.

© Claudia Morales/Reuters

Binance, the world's largest cryptocurrency exchange, said Thursday it's investigating reports of a potential security issue as its founder said the incident "does look like a hack on Binance." The company said late Thursday the estimated total impact was at more than $6 billion, which could be one of the most significant of such security incidents on record.

The rout hit publicly traded crypto exchanges and fintech companies, as well as cryptocurrencies like Bitcoin.

© Marco Bello/Getty Images

Hackers working for North Korea are suspected of hacking a Binance employee's laptop, which allowed the theft of billions in crypto.

We’d like to hear from people who’ve been directly affected by the hack or now have concerns about crypto security

The world’s largest cryptocurrency exchange has been hit by an industry-record $6.3bn (£4.7bn) hack.

Binance has scrambled to freeze the affected assets, with about $3bn located so far. Co-founder Yi He said the company would cover “all hacking losses”. Analysts have attributed the attack to North Korean state backed hackers.

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© Photograph: Bloomberg/Getty Images

© Photograph: Bloomberg/Getty Images

© Photograph: Bloomberg/Getty Images

Changpeng Zhao, jailed in the United States for a financial crime and pardoned by President Trump, is now living a gilded life in the United Arab Emirates.

© Laura Boushnak for The New York Times

The crypto exchange said it was compromised in what could be the biggest crypto heist ever. One research lab attributed the theft to “North Korea’s elite hacking unit.”

© Antonio Masiello/Getty Images

Binance exchange says it will cover customer losses as it scrambles to freeze affected assets, with about $3bn located so far

• Q&A: How big a deal is the $6.3bn crypto heist?

• Tell us: have you been affected by the Binance hack?

• Business live – latest updates

The world’s largest cryptocurrency exchange has been hit by a record $6.3bn (£4.7bn) hack described as the biggest heist in history, with experts identifying North Korea as the likely culprit.

Binance said it would cover all customer losses as it froze $3bn of the affected assets.

Continue reading...

© Photograph: Darrin Zammit Lupi/Reuters

© Photograph: Darrin Zammit Lupi/Reuters

© Photograph: Darrin Zammit Lupi/Reuters

Binance exchange says it will cover customer losses as it scrambles to freeze affected assets, with about $3bn located so far

• Q&A: How big a deal is the $6.3bn crypto heist?

• Tell us: have you been affected by the Binance hack?

• Business live – latest updates

The world’s largest cryptocurrency exchange has been hit by a record $6.3bn (£4.7bn) hack described as the biggest heist in history, with experts identifying North Korea as the likely culprit.

Binance said it would cover all customer losses as it froze $3bn of the affected assets.

Continue reading...

© Photograph: Darrin Zammit Lupi/Reuters

© Photograph: Darrin Zammit Lupi/Reuters

© Photograph: Darrin Zammit Lupi/Reuters

Вечером 29 октября с горячих кошельков Binance в сети Ethereum за 40 минут ушло от $2,5 до $3,5 млрд. По подсчёту Decrypt, с учётом Bitcoin и Tron набирается не меньше $5,57 млрд. Атакующий не крал ключи от монет напрямую: через EIP-7702 он подменил код кошелька Binance 14 и вывел содержимое одним вызовом.

Tether и Circle в первый час заморозили около $971 млн USDT и $823 млн USDC. К 01:09 по Москве Tether довёл заморозку примерно до $1,67 млрд, и вместе с Circle заблокировано около $2,5 млрд. Binance расследует инцидент и заявляет, что средства пользователей в безопасности; кто стоит за атакой, официально не названо.

Ниже разобрано то, что видно прямо в блокчейне. Данные публичные, их можно проверить самому. Срез обновлён в 22:09 UTC 29 октября (01:09 по Москве).

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Some estimates say hackers stole billions in crypto from Binance, the world's largest cryptocurrency exchange, during a cyberattack on Thursday.