Binance hack: $6.3 billion stolen, North Korea linked by investigators

What's new

Crypto exchange Binance has reported a hack in which about $6.3 billion was taken. The company, the world's biggest cryptocurrency exchange, announced the attack on a Thursday. Blockchain intelligence firms have linked the hack to North Korea, according to NPR. Binance is trying to recover the stolen money, the BBC reported.

Why it matters

The attack raises fresh doubts about how safe crypto exchanges are. Many Indian users hold crypto on platforms like this, so questions about security affect them too. Reports say this may be the largest attack of its kind so far, which makes it a useful warning for anyone who trades or stores digital assets.

What others say

NDTV says investigators suspect the involvement of a North Korean hacking group. NPR reports that blockchain intelligence firms link North Korea to the hack. The BBC describes the attack as complex, in line with the company's own account.

What we don't know yet

The sources do not say how the hackers got in or how much of the $6.3 billion can be recovered. The North Korea link is based on analysis by outside firms and investigators, and is not confirmed in the reports.