Bitcoin Magazine Blockchain Firms Link North Korea to $6.3 Billion Binance Hack
Blockchain analysis firms Chainalysis and TRM Labs have linked the $6.3 billion Binance hack yesterday to TraderTraitor, a unit associated with North Korea. If confirmed at this scale, the theft would be the largest crypto hack on record.
Chainalysis puts the total at $6.4 billion in its own assessment. Chainalysis says funds began leaving Binance hot wallets across multiple blockchains around 4:20 p.m. Eastern Time on October 29.
The firm said the attacker used an operational wallet funded through Tornado Cash to submit signed authorizations that allowed a Binance hot wallet to run attacker-deployed code.
The attacker then swept assets into addresses under its control. Binance has said its initial investigation points to a compromised engineer’s laptop, which gave an attacker access to a service container and enabled unauthorized withdrawals.
Source: Bitcoin Magazine
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