The Binance hack: what to do now
Binance says about $6.3 billion was stolen after an engineer’s laptop was compromised. What account holders and companies should do now.
On 29 October, Binance said about $6.3 billion had been taken from its wallets. It’s the largest crypto theft on record. The exchange’s first look points to one engineer’s compromised laptop as the way in. About $3 billion has been frozen, deposits and withdrawals are paused, and Binance says user funds are safe and it will cover all losses (Axios, Al Jazeera).
Blockchain researchers link the attack to a North Korean group. Binance hasn’t confirmed that, and the numbers may still change.
If you have a Binance account, the bigger risk this week is the scammers who will use the news:
- Ignore any “compensation” or “refund” link sent by message or email. Real updates come through the app and Binance’s official accounts.
- Nobody from Binance needs your password, verification code or recovery phrase.
- Hang up on anyone who calls saying they’re “Binance support”.
- Turn on the withdrawal address whitelist, and use a passkey or an authenticator app instead of SMS.
- Don’t move money in a panic.
For companies, the uncomfortable question is simple: if one engineer’s laptop were compromised today, how far could an attacker get? Give people only the access they need, require a second person to approve anything that moves money or changes production, and treat staff laptops as part of your defences, not something outside them.