Details on How the Binance Hack Was Carried Out Have Been Revealed – An Official Statement Has Been Released

Binance, in new details shared today regarding the approximately $6.3 billion attack, revealed that hackers used fake job interviews and modified software to reach employees.

According to Binance Security Director Jimmy Su, a software engineer was contacted in September through a real-world business platform. Individuals posing as a project manager and HR employee gained trust through video calls and personal social media accounts.

The engineer was then asked to download a coding assignment to his work computer. This file contained malware that could evade security systems.

Another engineer had installed a modified Homebrew package in June while searching for an AI tool. Binance stated that even after changing the device, employees on the wallet team continued to be targeted.

Using the compromised device and an AI tool within the company, the attackers gained access to the computers of two more wallet engineers. In the final stage, malicious code was executed using the stolen access credentials, targeting the hot wallet infrastructure.

Richard Teng stated that approximately $2.85 billion has been frozen and that about 98 percent of the affected tokens were covered by company resources. Binance also announced that it thwarted 57 suspected North Korean-linked hacking attempts this year.

*This is not investment advice.