For almost a decade, North Korean cybercriminals have targeted the cryptocurrency industry—large and small. While these hacks have been frequent, the country’s hackers allegedly made off with their biggest heist to date last week when $6.34 billion was siphoned from the wallets belonging to crypto exchange Binance.
\n\nIn a new security update issued on Tuesday, Binance detailed its initial findings into how the company was compromised and hackers were able to steal billions in just 20 minutes. The hack, according to Binance, was the result of an engineer falling for a fake job interview and downloading malicious software. The hackers were then able to move through the company’s network, exploit an internal AI tool, and gain access to a wallet signing service that allowed them to make transactions outside of normal withdrawal procedures.
\n\n“This should not have happened, and we apologize for the concern, disruption and uncertainty it caused our users, partners and the wider industry,” Binance wrote in its security update, where it also says it has set aside funds to cover the losses and has “rebuilt or replaced” internal systems impacted in the attack. “It was not a single isolated breach or a simple phishing incident,” the company…
Original source: https://www.wired.com/