In what is now being described as the biggest cryptocurrency theft in history, hackers have carted away $6.3 billion from Binance, the world’s largest crypto exchange.
Binance confirmed the breach in an official statement, describing it as a sophisticated and complex attack. The company said it is currently working with law enforcement agencies to handle the situation, an incident that has already sent shockwaves across the global crypto market.
According to the exchange, customer deposits were not affected by the hack. The platform also revealed that it has been collaborating with its partners to track and freeze the stolen funds, and has so far been able to locate about $3 billion of the stolen assets.
Binance announced a temporary suspension of withdrawals for 24 hours. While it did not give an update on the remaining $3.3 billion, the exchange assured users that it will cover all losses incurred.
Blockchain intelligence company TRM Labs, based in the United States, has linked the attack to a North Korean hacking group known as TraderTraitor, which it described as an elite unit.
The firm said it made the attribution with high confidence, explaining that several patterns in the current breach are consistent with previous heists tied to North Korea.
