CoinTelegraph
Binance reported $6.3 billion stolen in what the seed describes as the largest theft in crypto history. Initial findings pointed to a compromised engineer’s laptop, and investigators linked the attack to North Korea’s TraderTraitor.
Why it matters
The breach spread beyond Binance: Tether and Circle froze more than $2.36 billion, while Aave temporarily froze markets after the attacker borrowed $44.6 million. Binance pledged to cover losses and said it had reserved $6.34 billion, including $5 billion in matching tokens. Blockaid warned that EIP-7702 may have helped bypass safeguards.
Market impact
Frozen assets reached $3 billion. Binance said it had replenished 90% of funds by Oct. 31 and 95% by Nov. 1. Withdrawals began reopening across 15 networks on Sunday, with $3.64 billion in net withdrawals reported during the first 9.5 hours. Binance later said withdrawal volumes were stabilizing. Aave reopened its markets and said its contracts were unaffected; the FBI and Secret Service joined recovery efforts.
Frequently asked questions
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How did investigators link the Binance theft to North Korea?
The seed says investigators linked the attack to North Korea’s TraderTraitor. Initial findings pointed to a compromised engineer’s laptop.
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How much of the stolen funds did Binance say it had replenished?
Binance reported replenishing 90% by Oct. 31 and 95% by Nov. 1.
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What role did Tether and Circle play after the breach?
Tether and Circle froze more than $2.36 billion. The total value of frozen assets later reached $3 billion.
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Why did Aave freeze its markets, and what happened afterward?
Aave froze markets after the attacker borrowed $44.6 million. It later reopened them and said its contracts were unaffected.
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How large were Binance withdrawals after networks reopened?
Binance reported $3.64 billion in net withdrawals during the first 9.5 hours after withdrawals began reopening across 15 networks on Sunday.
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