How Fake Job Interviews Led to the Biggest Crypto Hack Ever: $6.3B Stolen

The world's largest cryptocurrency exchange was hit by the biggest hack in crypto history — and it all started with fake job interviews. Binance (one of the biggest companies where people buy and sell digital money like Bitcoin) has revealed shocking new details about how criminals stole a staggering $6.3 billion.

According to Binance, the attackers tricked employees using fake job interviews and a compromised (hacked) AI tool. Once inside, they exploited weaknesses in the system to move huge amounts of money out of the exchange.

How the hack worked:

• The attackers used a feature called EIP-7702 on Ethereum (the second-biggest cryptocurrency network). This feature lets digital wallets hand over permission to make transactions to automated programs called smart contracts (self-running code that performs actions automatically).
• This allowed the thieves to keep stealing money even after Binance tried to stop withdrawals.
• Binance's security system, called an MPC wallet (a setup that splits control of transactions across multiple parties so no single person has full control), actually made it harder to quickly shut off the stolen permissions.

The numbers at a glance:

• $6.3 billion in digital assets was affected — the largest crypto hack ever.
• $2.85 billion has been frozen or recovered so far.
• Binance says it will cover the losses itself, so customers won't lose their money.
• As of October 31, the company had replaced 98% of the stolen tokens.

Who did it? The FBI (the US federal investigation agency) blames North Korean hackers, who are known for targeting crypto to fund their government. North Korea has denied any involvement, with leader Kim Jong Un's sister calling the accusation "politically motivated."

The bottom line: This hack is a powerful reminder that even the biggest crypto companies can be fooled by clever tricks like fake job offers. The good news for Binance users is that the company is paying back the losses — but the scale of this theft shows how risky the digital money world can still be.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/news/binance-fake-job-interviews-compromised-ai-tool-hack?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound