Binance Reveals How Hackers Stole $6.34 Billion in Crypto Heist
Binance has disclosed details of a massive $6.34 billion cryptocurrency theft, linking the attack to fake job interviews and infected software. The exchange has replaced most affected assets and frozen billions in stolen funds.
Binance, the world's largest cryptocurrency exchange by daily trading volume, has revealed how hackers orchestrated a $6.34 billion cryptocurrency theft. According to the exchange's investigation, the attack involved fake job interviews, infected software, and an internal AI tool, with the campaign beginning months before the theft occurred on October 29.
The investigation traced the origins to June, when attackers persuaded an engineer to download a compromised version of Homebrew, a widely used software package manager. Binance's cybersecurity team detected and removed the malware, but the attackers had already gathered information about the employee and colleagues. A second engineer was targeted in September through a legitimate recruitment platform, where the attackers offered an interview for a non-existent company. They shared social media photos and videos to appear credible and then asked the engineer to download a technical assignment as part of the interview process.
The theft unfolded over roughly four hours on October 29. The US Federal Bureau of Investigation attributed the attack to hackers affiliated with North Korea, though Pyongyang rejected the accusation, with Kim Jong Un's sister dismissing it as "absurd rhetoric." Binance said it has replaced 98% of the affected assets using its own funds, with the remainder involving less frequently traded cryptocurrencies that are harder to purchase. Additionally, approximately $2.85 billion of the stolen funds has been frozen, preventing the attackers from spending or converting those assets.
News of the breach, believed to be the largest crypto heist on record, triggered sharp declines across most major cryptocurrencies, underscoring the vulnerability of even the most prominent digital asset platforms to sophisticated cyberattacks.
The incident highlights the evolving tactics of cybercriminals, who are increasingly using social engineering and legitimate platforms to gain initial access. Binance's response, including the rapid replacement of most assets and the freezing of billions in stolen funds, demonstrates the exchange's commitment to protecting user interests, though the event has raised questions about the overall security of the cryptocurrency ecosystem.
