Hackers Steal $6.3 Billion in Crypto from Binance in 20 Minutes

Business Standard · business

Binance, the world's largest cryptocurrency exchange, experienced a major cyberattack where hackers stole approximately $6.3 billion in digital assets. The majority of the theft occurred within a rapid 20-minute timeframe, targeting the exchange's internal transaction authorisation system. While Binance assured customers their losses would be covered, the incident highlights significant vulnerabilities in crypto transaction processing. Investigators are exploring potential links to North Korean cybercriminal groups, though the attackers' identities remain unconfirmed.