Binance says fake job interviews used in $6.3bn crypto hack
Hackers used social engineering and a compromised internal AI tool to steal a record $6.3bn from the cryptocurrency exchange.
Hackers used fake job interviews and a compromised internal AI tool to steal a record $6.3bn from Binance, the company revealed. According to BBC News, the cryptocurrency exchange described the event as a serious and highly sophisticated security incident.
The attack involved a multi-stage campaign where hackers used social engineering to target engineers. One engineer was reportedly contacted through a legitimate job-hunting platform and invited to bogus interviews with fake company representatives. During a second interview, the engineer was instructed to download an assignment that contained malicious code, according to the company.
The hackers then used the compromised computer and an internal AI tool in October to gain control over two other engineers' laptops. On 29 October, the attackers used stolen credentials to drain billions of dollars from crypto wallets within 20 minutes, according to the New York Post.
The Federal Bureau of Investigation (FBI) and Secret Service have been assisting Binance in tracing the assets. The FBI indicated that the Democratic People's Republic of Korea is responsible for the incident, linking it to the state-backed group TraderTraitor.
North Korea has denied any involvement in the hack. Kim Yo Jong, a top official, said the accusations were a sinister attempt by the US to damage the country's public image.
Binance said it has set aside more than 100 per cent of the funds needed to cover the loss. As of Saturday, the company noted that 98 per cent of the impacted token assets had been replenished.