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Binance $6.3B Hack Suspected to Be North Korea's Work
Binance, the world's largest cryptocurrency exchange, suffered the largest hacking damage in history, with hackers stealing $6.3 billion in what analysts call the biggest crypto heist ever. U.S. blockchain analysis firm TRM Labs says North Korean hackers were behind the raid, moving approximately $6.36 billion out of Binance wallets. Binance has frozen about $3 billion in assets and says all losses will be covered by its insurance fund (SAFU) and company funds, emphasizing user funds are safe. Bitcoin fell below $80,000, sliding into the $77,000 range, as the suspected breach heightened market anxiety. Korean outlets report the attack may have been carried out through an engineer's laptop accessing service containers and submitting unauthorized withdrawal transactions.
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