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CVCommunity Views #binance#community#crypto#hack#north-korea#reddit

r/technology and r/cybersecurity react to TRM Labs attributing the record $6.36 billion Binance theft to North Korea

TRM's minute-by-minute reconstruction shows how an attacker emptied hot wallets on ten blockchains in about 20 minutes.

The threads link a TRM Labs report on the theft of about $6.36 billion from Binance wallets on ten blockchains, most of it in roughly 20 minutes starting at 20:05 UTC on October 29. TRM calls it the largest crypto theft on record, about four times the $1.5 billion Bybit hack of 2025, and attributes it with high confidence to TraderTraitor, which it describes as North Korea's premier hacking unit. TRM says the attacker likely gained the ability to make Binance's hot-wallet signing system sign arbitrary transactions; on Ethereum it used pre-signed EIP-7702 authorizations to take over a wallet. Binance had not published a root cause. As of TRM's snapshot, about $2.7 billion had been frozen, led by Tether and Circle.

About 34,000 upvotes in r/technology and 1,200 in r/cybersecurity. Top replies point out that an industry built on avoiding regulation ends up wanting governments to step in, question keeping crypto on an exchange at all, and ask who actually bears the loss.

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CCybersecurity #binance#bitcoin#crypto#cryptocurrency#exchanges#fake-job-interview#hack#lazarus-group#north-korea#social-engineering

Binance says a fake job interview opened the door to its record $6.3 billion theft; the FBI blames North Korea

The Register walks through Binance's own incident report, step by step, from a poisoned installer in June to the 20-minute drain.

Binance has published an incident report on the theft of about $6.3 billion on October 29, which TRM Labs calls the largest cryptocurrency theft on record. According to The Register, the FBI attributed it over the weekend to TraderTraitor, a North Korean operation linked to the Lazarus Group; TRM and Chainalysis had already named the same unit.

Binance describes a months-long intrusion, not a single phishing email. In June an engineer downloaded a malicious Homebrew installer; staff caught it and replaced the device. In September a second engineer was approached on a job-hunting platform and taken through fake interviews, the last with someone posing as a CEO who asked them to download a code "assignment" that carried malware. On October 20 the attackers used that machine and an internal AI tool to reach two wallet engineers' computers, and on October 29 they used a stolen container-deployment token to launch the theft.

TRM told WIRED the wallets on at least ten blockchains were drained in about 20 minutes, after test runs on smaller wallets. Binance says it will cover all losses and has rebuilt the wallet system and the AI tool.

When Binance reopened withdrawals on Sunday, November 1, it processed $4.65 billion out and $1.01 billion in, for $3.64 billion in net outflows (about 2.1% of its $171 billion in assets), CNBC reports. Bitcoin slid about 4% on Friday, less than the 8.3% average first-day drop after past exchange hacks, per Anchorage Digital data cited by CNBC.

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MMMarket Movers #crypto#robinhood#SEC#stock-market#tokenization

Tokenized stock trading takes off overseas while Goldman, Microsoft and McDonald’s object to tokens of their shares

CNBC explains the growth numbers and the shareholder-rights question behind the objections.

Trading in blockchain versions of stocks is growing fast outside the U.S. Bitwise Asset Management's quarterly report says tokenized stock volume on Robinhood Chain went from $526 million in July to $11.31 billion in September, CNBC reports.

In the U.S., companies are pushing back. On October 19, OKXICE, the tokenized-securities venue launched by crypto exchange OKX and NYSE owner Intercontinental Exchange, disclosed objections from Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald's, Western Digital and Alphabet, adding to earlier objectors including CoreWeave, UnitedHealth and Broadcom.

CNBC says the SEC's innovation exemption last month created a temporary path for tokenized stocks in the U.S. that requires companies be able to object. The debate centers on whether token holders should get the same rights as shareholders, including voting.

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CCybersecurity #crypto#hardware#supply-chain

Ledger confirms a hardware spy implant in wallets sold by a Southeast Asian reseller

A supply-chain attack on a device whose whole job is to be trustworthy.

Ledger confirmed that some of its hardware wallets sold through CryptoBilis, a Malaysia-based reseller operating across Southeast Asia, contained an unauthorized hardware implant that drained users' crypto. Ledger opened an investigation on October 9, asked the reseller to stop selling its devices, and says all reports of unexpected drains trace to devices sold there and that the affected volume is "limited." It advises buyers from that reseller not to set the device up, or to move funds to a new device with a new seed. Researchers had been showing the implant since September 16, saying tampered devices sold for nearly half the original price.

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