Record-Breaking Cyberattack Hits Binance: $6.36 Billion Stolen

Binance has suffered a massive security breach, resulting in the theft of digital assets worth $6.36 billion, marking the largest cryptocurrency heist on record. Analytics firm TRM Labs identified the North Korean group "Trader Traitor" as the perpetrator of the October 29th attack, which spanned ten different blockchain networks. The heist was executed in approximately 20 minutes by exploiting the EIP-7702 authorization mechanism on Ethereum. Binance confirmed the security incident and temporarily suspended withdrawals as a precaution, reiterating that user funds are safe. Technical analysis revealed the attackers had been preparing the exploit for at least 36 hours prior to the breach.