Finance · 10 sources combined
Binance hacked for 8.4 trillion won
95% recovered, withdrawals resume
In short
Binance, the world's largest cryptocurrency exchange, was hacked on October 29 and lost 8.4 trillion won worth of coins.
Binance recovered 95% of the damage and sequentially resumed withdrawals of major coins like Bitcoin starting November 1.
The U.S. FBI has identified North Korean hacking group TraderTraitor as the mastermind and is investigating.
Key facts
| When | The hack occurred early morning Korean time on October 29, happening within 20 minutes. |
|---|---|
| Who | An employee's laptop hack triggered it; the FBI identified North Korean group TraderTraitor as behind it. |
| What | 6.3 billion dollars (approximately 8.4 trillion won) in virtual assets were illegally withdrawn, the largest scale ever. |
| How | The company secured 95% of damaged assets and resumed withdrawals of 10 types including Bitcoin starting November 1. |
What it means for me
Binance users must directly check withdrawal schedules and compensation plans.
If you are investing in virtual assets, you need to review your exchange's security and compensation policies.
