Binance Under Attack: What We Know So Far
Last Night Binance has reportedly suffered massive outflows from its hot wallets, potentially involving up to $6.3B in BTC, ETH and dollar stablecoins. If confirmed, this would be the largest crypto heist in history. Around $3B has reportedly already been frozen.
Remarkably, the affected assets have remained relatively resilient. The stolen amount represents less than 1% of total market cap, with no major panic selling observed so far. Binance has announced it will cover all losses from the SAFU fund and the company's funds.
TRM Labs attributes the attack with high confidence to TraderTraitor, a North Korean state-sponsored hacking group. CNN also reports that Chainalysis considers North Korea highly likely to be behind the attack, citing links to previous hacks. The attribution has not yet been independently confirmed.
The main takeaway imo remains the old saying: Not your keys, not your coins. Keeping your assets on a centralized exchange means giving up part of your control.
Track the movement of the affected funds in real time:
https://binance-hack-watch.vercel.app/#tab-live