US probes whether North Korea hacked Binance for $6.3 billion

Trump says the US is looking into whether North Korean hackers were behind Binance’s $6.3 billion heist, the largest such crypto hack on record. He said, “We don’t know. We’re looking at that.”

Aikido Field CTO @advocatemack says this is not the first time North Korea have launched a wide-spread cyber attack, two years ago they hacked 10% of global cloud accounts but only walked away with $700: "I can say with very high confidence that I think this is North Korea along with lots of other analysts. A lot of other nation states are really targeting information, data, trying to get into government systems, trying to disrupt services". "North Korea is almost exclusively trying to get financial return from this. They're very much trying to get cryptocurrency. They were behind the $1.5 billion Bybit attack two years ago or 18 months ago." "They compromised an open-source maintainer who was very prolific, and his packages that he maintains were downloaded 2.6 billion times every week.…

SITUATION EXPLAINED: Hackers linked to North Korea allegedly just stole $6.3B from Binance, about 4x the previous biggest crypto heist ever. • The attackers started preparing at least 36 hours ahead, then drained Binance wallets on 10 blockchains in about 20 minutes • TRM Labs and Chainalysis blame TraderTraitor, the North Korean hacking unit the FBI already tied to last year's $1.5B Bybit hack • They hit Binance's "hot wallets," which stay online for fast withdrawals, and got Binance's own systems to approve the transfers • Tether, Circle and other crypto firms have frozen about $2.7B so far, but the attackers still hold around $2.4B • Binance says it will cover every customer's losses with its SAFU emergency fund and company money, and withdrawals should resume within days @theojaffee:…

Binance lost an estimated $6.3B in the biggest crypto hack ever, which reportedly started with one engineer’s compromised laptop. @Jason recommends an extreme solution: the entire industry takes a month off each year to plug security gaps. (Call it “No App November.”) Here’s why he argues corporate cybersecurity budgets should double. PLUS, @Jake_Newfield does a live pitch of his startup, @HermetiqAI! 0:00 The largest crypto hack or theft in history 6:33 Jason gives CZ credit for backstopping losses 8:22 Jason’s cybersecurity proposals 12:36 Stripe Startups - Stripe Startups offers early-stage, venture-backed startups access to Stripe fee credits and more. Apply today on 15:37 DoorDash buys Instacart for $17B 19:36 Is DoorDash overpaying? 25:16 Thanks to our partners at Rippling! Head to…