Binance hack is ‘cyber war,’ TRM Labs executive says
TRM Labs says the $6.3 billion Binance hack, attributed to North Korean group TraitorTrader, exposed the growing scale of state-backed crypto theft. Binance reported that attackers used a fake recruiter approach to infect an engineer’s computer and compromise an internal AI tool to access its wallet-signing service. Stablecoin issuers froze about $2.67 billion in funds, including Tether’s 971.1 million USDT freeze within 37 minutes; TRM credited its Beacon Network with helping coordinate the response. TRM’s Ari Redbord warned that rapid industry coordination may not deter North Korea, given the enormous potential returns. He urged governments to use AI to strengthen defenses and consider offensive cyber operations against hackers and the networks that launder stolen funds.
