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One of the most atrocious hacking activities happened in the cyberspace last night as a group of hackers from North Korea reportedly hacked into crypto currency platform, Binance.
Binance, which happens to be one of the biggest crypto currency platforms in the world reported that their system were hacked last night, and more than $6.3 billion were looted.
Binance’s initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far, Binance stated.
To put that into perspective, this American currency converts to roughly ₹57,000 crore in Indian currency, which is nearly the state budget of a smaller state in India.
About $3 billion has been frozen so far, most of it in stablecoins after Tether and Circle locked the tokens within hours, but roughly $2.4 billion in bitcoin and ether is still in the attacker’s wallets.
It is confirmed that this is the biggest hacking operation in crypto currency history. The irony is that crypto currency is regarded as the safest transaction module in the world but that did not stop a bunch of North Korean hackers from looting Binance now.
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