Binance Hit by Hack Causing 8 Trillion Won in Losses... "North Korea-Linked Group May Be Behind It"

South Korean firm also sees possibility of North Korean involvement
Binance freezes half of $6.3 billion in affected assets

Binance, the world's largest cryptocurrency exchange, may have been hacked by North Korea, according to an analysis by a South Korean company of an attack that caused losses exceeding 8 trillion won.

Bonanza Factory, a blockchain compliance company, said on October 30 that its analysis of an incident involving $6.3 billion (approximately 8.4 trillion won) at Binance confirmed this possibility.

Bonanza Factory said it found on-chain evidence that funds stolen from Binance had been mixed at the same address as funds stolen from cryptocurrency exchange Bitget last month.

The Bitget hack was previously attributed to the North Korean hacking group TraderTraitor, leading to speculation that the latest incident may also have been carried out by a North Korea-linked group.

It added, however, that Binance had made no official statement regarding the involvement of a North Korean hacking group.

A Bonanza Factory representative said, "We will continue to release analyses of major cryptocurrency hacking incidents through Blackpaper, our AI-powered real-time tracking service."

Blockchain intelligence firm TRM Labs also identified North Korean hacking group TraderTraitor as being behind the theft.

Meanwhile, Binance said on October 29 local time that it had frozen half of the $6.3 billion in cryptocurrency affected by the attack. Binance said it would temporarily suspend all deposits and withdrawals and fully compensate those affected.

This content was produced with the assistance of AI translation services.