ISLAMABAD – A huge numbers of investors from across the globe including Pakistan are concerned about withdraws of funds from Binance after $6.3 billion stolen from world’s largest cryptocurrency exchange in what is being described at biggest crypto heist ever.
How the Binance Heist Unfolded?
In a latest investigation update, Binance said the attack began with a compromised employee laptop and was carried out through several additional points of entry uncovered as its investigation progressed.
“Binance’s initial findings pointed to a compromised laptop belonging to an employee as the starting point. Its subsequent investigation has identified additional points of breach, showing the incident went beyond one device. The exchange said the attack could not have been completed from a single machine, and that no individual engineer’s permissions could have been used to move the funds in “one click.” The theft involved a more complex, multi-step process,” read official blog.
It however confirmed that it has found no evidence that wallet private keys were compromised.
Hackers Split Bitcoin Across 19 Wallets
According to Binance, hackers split Bitcoin among 19 wallets, 17 of which received 1,000 BTC each.
It added that all 19 wallets still held their full balances, and subsequent transactions could be tracked on-chain.
Tracing and Freezing the Funds
Binance estimates the incident affected about $6.3 billion in assets. “About $3 billion has been frozen so far, nearly half of the total, and the exchange is working with partners to freeze more.”
When Will Binance Resume Withdrawals?
Binance has paused withdrawals, preventing further movement of funds, for security revamp. The exchange said in an X update that it expects withdrawals to resume within 48 hours and will provide further details.
User Funds Are Protected
Binance said user funds are safe and users will not bear any losses. All losses will be covered in full by its Secure Asset Fund for Users (SAFU) and company funds.
Bitcoin Falls 3.39% – Latest Rates
Cryptocurrency prices recorded declines, with Bitcoin, Ethereum and BNB among the major digital assets trading in negative territory.
Bitcoin was trading at $77,405.23, down 3.39%, while Ethereum fell 4.07% to $2,223.42.
BNB also recorded a decline of 5.28%, trading at $702.48, marking the largest percentage drop among the listed cryptocurrencies.
