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Binance $6.3B hack blamed on North Korea
Binance, the world's largest cryptocurrency exchange, lost about $6.3 billion in what analysts call the biggest crypto hack ever, and U.S. blockchain analysis firm TRM Labs says North Korean hackers were behind it. Yonhap reports the theft was an estimated $6.36 billion, and KBS World says Binance's initial investigation found the attacker may have used an engineer's laptop to access service containers and submit unauthorized withdrawals. Binance has frozen about $3 billion in assets with industry partners and says all losses will be covered by its insurance fund (SAFU) and company funds, according to KBS World. Bitcoin fell below $80,000 into the $77,000 range as the suspected breach rattled markets, Business Korea reports. Korean media are covering the hack heavily, with outlets like the Korea Times and Business Korea detailing the attack, insurance limits, and market fallout, while KBS World notes the loss is about 8.4 trillion won.
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