Binance hack — $6.3 Billion Crypto Stolen via Fake Job Interviews - The Korea Daily
Binance, the world's largest crypto exchange, suffered a $6.3 billion theft in what's now the largest cryptocurrency heist in history, orchestrated through fake job interviews and malware.
The breach occurred on October 29, following a months-long campaign where hackers infected employees' computers and exploited internal AI tools to infiltrate Binance's cryptocurrency wallet management system. The attack began in June when a wallet development team member unknowingly downloaded malware disguised as an AI coding tool.
Despite Binance's security team detecting and removing the malware, the hackers had already gathered vital information about staff operations. In September, attackers targeted another engineer through a legitimate job platform, posing as representatives of a fake company with a fabricated CEO conducting video interviews.
Massive Theft
By October 20, the hackers accessed operational systems of two crypto wallet developers. On October 29, they executed malicious scripts using one developer's computer and credentials stolen from another, bypassing withdrawal approvals to steal approximately $6.3 billion in digital assets.
This incident is widely regarded as the largest cryptocurrency hack in history and potentially the largest financial theft of all time.
Response and Recovery
Binance has frozen or blocked approximately $2.85 billion of the stolen assets and covered roughly 98% of the stolen volume with its own funds, ensuring customers bear no losses. The exchange is rebuilding compromised systems, strengthening security audits, and increasing investments in AI-based anomaly detection technologies.
The FBI has attributed the attack to the North Korea-linked hacking group 'TraderTraitor,' which North Korea has denied through a statement from Kim Yo-jong. Binance also plans to undergo independent security reviews and help establish a security research fund with major AI corporations.
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