Binance hack: North Korea behind the theft of $6.3 billion?
Some of the funds stolen from Binance were found on an address linked to the Bitget hack. For Chainalysis and TRM Labs, the clues point to TraderTraitor, a group of North Korean hackers suspected of being behind the…
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https://cryptoast.fr/hack-binance-coree-du-nord-tradertraitor/
The Binance hack, estimated at $6.3 billion, could well be the work of North Korean hackers. Several clues point to TraderTraitor, a group linked to the Pyongyang regime and already suspected of other major attacks against the crypto ecosystem.
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On-chain investigator ZachXBT spotted some of the funds stolen from Binance on an Ethereum address. They had been transferred there via THORChain, a protocol allowing cryptocurrencies to be exchanged between different blockchains without an intermediary.
Update: Stolen funds from the $6.3B Binance exploit and $388M Bitget exploit were commingled at the same address 45 minutes ago, after arriving via THORChain.
This indicates the same actor is likely behind both incidents.
The Bitget exploit was attributed to DPRK-linked… pic.twitter.com/KH72rXfNkM
However, this same address already contained funds from the Bitget hack, which cost the platform $388 million last September.
For ZachXBT, this grouping suggests that the same actor could be behind both attacks. The Bitget hack had already been attributed to TraderTraitor, a North Korean group also associated with the Kelp DAO protocol.
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Blockchain analysis companies Chainalysis and TRM Labs come to the same conclusion: North Korea would most likely be behind the largest hack in the history of cryptocurrencies.
Jonathan Levin, CEO of Chainalysis, estimates the amount stolen at $6.4 billion and points to TraderTraitor, due to links to previous attacks.
In an analysis published Thursday, TRM Labs also claims to attribute the hack to this group with a high level of confidence, based on on-chain data and external intelligence.
Investigators note several similarities with the Bybit and Kelp DAO attacks: use of Tornado Cash to finance the first operations, preparation of transactions in advance and very rapid execution of transfers. However, this attribution remains to be officially confirmed.
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- Cryptoast30 Oct, 10:07Binance hack: North Korea behind the theft of $6.3 billion? ↗Figures: 6.3 milliards
| Publisher Cryptoast (general tier) | +72 |
| Detailed summary | +2 |
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