Binance Hack: Everything You Need to Know About the Biggest Crypto Heist in History
Summary
Attackers reportedly stole about $6.4 billion from Binance hot wallets across roughly 10 blockchains, exploiting compromised exchange infrastructure rather than a flaw in the blockchains. Binance says it will cover the losses, has paused withdrawals while rebuilding and testing systems, and is cooperating with law enforcement. Analytics firms attribute the attack to North Korean-linked TraderTraitor. Tether and Circle froze about $2.3 billion in assets; roughly $3 billion has been frozen or located, while an estimated $3.3 billion remains under attacker control. Bitcoin fell about 4%, and the breach renewed calls for U.S. oversight of offshore exchanges.
