Binance hackers exploited eight-week access before $6.3 billion theft
Details of the hacking incident
A new report from the Security Alliance (SEAL) indicates that hackers linked to North Korea had unauthorized access to a Binance employee's device for about eight weeks prior to the $6.3 billion exploit on October 29. SEAL claims that the hackers initially compromised a software engineer's device in September via a fake recruitment scheme.
The report suggests that after the initial breach, the hackers were able to stealthily navigate through the compromised system until they gained access to Binance’s wallet infrastructure on October 20.
Key numbers
- 8-week access period before the exploit
- $6.3 billion stolen
- Initial device compromise occurred in September
- Additional wallet access obtained on October 20
What Binance says
In response to the report, Binance stated that the broader attack campaign began in June. A spokesperson clarified that while the initial device compromises might have happened in June and September, the hackers only accessed the wallet operations on October 20.
Analysis of intrusion patterns
SEAL's findings also point out that this hacking method follows patterns observed in other significant crypto thefts, where hackers had similar prolonged access to systems before executing their attacks. Such patterns raise concerns about the security measures in place at cryptocurrency exchanges.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
