Binance crypto theft: Here's how North Korean hackers perfected the heist, stole $6.3 billion in 20 minutes | Details

What happened: North Korean hackers stole an estimated $6.3 billion from Binance within 20 minutes, an attack the FBI attributed to the group known as TraderTraitor. Key numbers: $6.3 billion stolen in 20 minutes; preparation began about 36 hours before the attack; Why it matters: Researchers said the speed and automation of the transactions meant no person could have approved them, and the FBI expects the group to convert stolen assets using DeFi and instant swap services. The theft raises questions about how exchanges can strengthen defences against increasingly sophisticated hackers. Coverage: 10 outlets in 24h

North Korean hackers stole an estimated $6.3 billion from Binance within 20 minutes, an attack the FBI attributed to the group known as TraderTraitor.

Researchers said the speed and automation of the transactions meant no person could have approved them, and the FBI expects the group to convert stolen assets using DeFi and instant swap services. The theft raises questions about how exchanges can strengthen defences against increasingly sophisticated hackers.