Binance hit by $6.3bn hack, with half of assets frozen
Two analytics firms have attributed the crypto exchange hack to a North Korean hacking unit, though no one has claimed responsibility.
At a glance
- Binance, the world's biggest crypto exchange, says it has been hit by a $6.3bn (£4.7bn) hack.
- Half of the affected assets have been frozen, but many remain in the hands of the hackers, Binance said.
- Two analytics firms attributed the incident to a North Korean hacking unit; no one has claimed responsibility.
Binance, the world's biggest cryptocurrency exchange, has been hit by a hack worth $6.3bn (£4.7bn), the company has said. Half of the affected assets have been frozen, Binance added, but many remain in the hands of the hackers.
What Binance has said
The cryptocurrency giant put the value of the hack at $6.3bn, equivalent to £4.7bn, and said it had managed to freeze half of the assets involved. Many of the other assets are still held by those who carried out the attack, according to the company's statement.
Who is being blamed
Two analytics firms have attributed the incident to a North Korean hacking unit. No one has claimed responsibility for the hack.
Binance did not directly respond to questions about the incident's potential links to North Korea. Beyond setting out the value of the hack and the freezing of half the assets, the exchange has not commented publicly on who might be responsible.
What is still unresolved
The attribution made public so far comes from the two analytics firms, rather than from any claim of responsibility by the attackers themselves. That leaves the question of who carried out the hack resting on those firms' assessments.
BBC business reporter Archana Shukla explains what is known so far about the hack.
Source: BBC World.
Questions and answers
- How much was taken in the Binance hack?
- Binance said the hack was worth $6.3bn (£4.7bn). The exchange said half of the assets have been frozen, while many remain in the hands of the hackers.
- Who is behind the Binance hack?
- Two analytics firms have attributed the incident to a North Korean hacking unit. No one has claimed responsibility, and Binance did not directly respond to questions about potential links to North Korea.
- Has Binance recovered the stolen assets?
- Binance said half of the assets have been frozen. Many of the assets remain in the hands of the hackers, according to the cryptocurrency exchange.
