The $6.3B Binance hack was pulled off in just 20 minutes

pixl97

When seconds matter we'll patch our systems in days to weeks.

qaz_plm

https://archive.ph/aKQzv

efields

I'd watch all 20 minutes of that screen share.

pyrale

Not quite the nanosecond buyout yet, but we're getting there.

hattmall

Binance having an extra $6B to cover this is wild to me.

1970-01-01

Excellent, now make sure all of it gets into the 90 minute movie.

dgrin91

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?

gurkwart

Something tells me that the timing of the Claude Code supply chain attack is not a coincidence ... https://cyberplace.social/@GossiTheDog/117528831681803563

bagacrap

The funds were simply de-centralized. Seems by design?

jjallen

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.

m00dy

yeah executed in 20minutes, how about planning phase ?

jakaroo

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

sharts

Perhaps the culprit deserves to keep it all like all billionaires. Fair is fair.

lordnacho

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.

chuckadams

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.

hn_submit

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.

amelius

Crypto is the canary.

bendtheblock

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.

tzone

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.

reassess_blind

How is it possible that Binance doesn't have a system that disallows massive simultaneous withdrawals without some kind of two-key manual override or something?