alt Hacker NewsThe $6.3B Binance hack was pulled off in just 20 minutes
Comments
The short duration of this crypto hack isn't particularly noteworthy. Of course it takes time to find or design the exploit, but execution is typically very quick for such events
Something tells me that the timing of the Claude Code supply chain attack is not a coincidence ...
Lol, the title is so misleading. As more information is coming out, if the Cursor Claude extension really is the culprit here, these attack must have been in the works for god knows how long.
This level of targeting is really only something that nation state actors can pull off, who are also protected from actual law enforcement prosecution. Unless attackers are really in North Korea, they would 100% be caught within just few days.
When seconds matter we'll patch our systems in days to weeks.
I wonder what the actual attack vectors here were. Was there actually a hack into binance systems, or was it just some insider or credential leak?
I'm stunned that they had that much cryptocoin online to be stolen. Why didn't they put it in "cold storage" and only some information in the database which says how much each customer had?
OTOH I heard that the culprits didn't steal the private keys of the affected customers. If this is true the stolen cryptocoins are worthless.
The funds were simply de-centralized. Seems by design?
As a former crypto proponent, after ~17 years I think we have to have a real discussion about the value crypto does or doesn't bring to the world.
Sure, it let's some people keep their savings safe from dictatorial countries. But it also fuels other dictators that are doing pretty nasty stuff to their own people. And crypto is facilitating that.
Most successful bank heists are in and out in less than five minutes. Or were anyway, there's a reason you don't hear about them these days.
Funny that for all the hype around decentralisation and the libertarian ideals that surround crypto Binance, Circle etc were able to unilaterally freeze funds when it came down to their own self interest... I thought the code was the rules etc seems like the best player won here.
Crazy that most of this gets put into North Korean weapons programs.
Not quite the nanosecond buyout yet, but we're getting there.
Crypto is the canary.
Excellent, now make sure all of it gets into the 90 minute movie.
Perhaps the culprit deserves to keep it all like all billionaires. Fair is fair.
[flagged]
[flagged]
[dead]
The heist itself only took 20 minutes, but the preparation is a business that has gone on for years. Much like a heist movie, the exciting bit is just the conclusion after a long build-up where Danny gets the gang together, plans it, and executes it.