Binance co-CEO Richard Teng said the hackers behind the record $6.3 billion theft spent months working their way into the exchange, rejecting claims that one compromised laptop was to blame. Speaking to CNBC, Teng said the attack began in June, when a wallet DevOps engineer installed a tampered version of Homebrew while searching online for a popular AI coding tool. Binance spotted the activity and replaced the device, but the engineer’s team had already been exposed. In September, the attackers posed as recruiters and gave another engineer a coding test containing hidden malware. They then moved through Binance’s internal AI tools to reach the system that approves wallet transactions. Teng said 98% of the $6.34 billion has been replaced. The FBI has linked the attack to North Korea’s TraderTraitor group, and about $3 billion has been frozen with help from Tether, Circle and Ripple.

Was this writing helpful?

Trust with CoinPedia:

CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:

All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:

Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.