Cryptocurrency exchange Binance said the security breach, which reportedly put $6.3 billion crypto assets at risk, was a “complex attack” and may not be the result of just one compromised laptop. Earlier in the day, the crypto giant had said that the cyber heist may involve a compromised DevOps engineer’s laptop.
In this photo illustration, the Binance logo is displayed on a screen on June 06, 2023 in San Anselmo, California. (AFP)
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“Our initial investigation suggested that the security incident may have involved a compromised laptop, however our subsequent investigation has uncovered additional points of breach,” it said in a post on X.
Binance further said it was coordinating with the law enforcement to resolve the issue. "We are still gathering the facts, and will share more directly as we have them," it said.
Binance is the world's largest cryptocurrency exchange by trading volume and registered users.
Sharing an update on the resumption of service, the crypto giant said, "We are still on track towards the expected timeline to resume the withdrawal service in 45 hours. Deposits remain unaffected."
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Binance said the outflows stopped as the withdrawal service was paused earlier. "We are still working with partners to freeze many of the impacted assets, and have frozen around $3 billion thus far," it said.
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Binance said the outflows stopped as the withdrawal service was paused earlier. "We are still working with partners to freeze many of the impacted assets, and have frozen around $3 billion thus far," it said.
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The crypto exchange assured investors that it will continue to provide updates through official Binance channels as more verified information becomes available.
Laptop compromised
In its earlier statement on the security breach, Binance said a compromised laptop allowed an attacker to gain access to a service container, and then submit withdrawal transactions which were not authorised. “We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far."
Deep Dive
Why did Binance say the $6.3 billion crypto heist was more than a compromised laptop?
Binance said its initial investigation pointed to a compromised laptop, but further investigation uncovered additional points of breach. It described the incident as a complex attack and said it was still gathering facts.
How did attackers use a compromised laptop to make unauthorised Binance withdrawals?
Binance said the compromised laptop may have allowed an attacker to access a service container and submit unauthorised withdrawal transactions. The company said it had found no evidence that wallet private keys were leaked.
Will Binance cover losses from the $6.3 billion security breach?
Binance said it would cover all losses using its SAFU fund and company funds, and assured customers that user funds were safe. It was also coordinating with law enforcement as it investigated the breach.
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The cryptocurrency exchange also assured that all losses will be covered from the SAFU fund and the company’s funds. "User funds are safe," it said.
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"We will also publish an updated Proof of Reserves once the remediation is complete,” the statement released on social media added.
Earlier on Thursday, Binance, the world’s largest cryptocurrency exchange, said $6.3 billion in funds were involved in what the industry has described as the biggest crypto hack ever. Blockchain intelligence firm TRM Labs attributed the heist to North Korea, calling it “the largest crypto theft on record.”
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Home/World News/Binance says $6.3 billion crypto heist was a complex attack, and not just 1 compromised laptop
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