North Korea gets away with $3 billion from Binance
www.citationneeded.news
Stablecoin issuers froze about $2.4 billion of the roughly $6.4 billion stolen. The rest exceeds Binance’s insurance fund, and the man promising to make users whole isn’t supposed to be running the company.

Article is by Molly White, who you might recognize from Mastodon and web3isgoinggreat.com:

https://hachyderm.io/@molly0xfff/117526961419935070

I wrote up what we know about the Binance hack so far. By my best estimate, Binance is out around $3 billion after stablecoin issuers froze what they could. Changpeng Zhao is promising Binance will cover it, but he’s legally barred from running the company.

  • Photon1c@lemmy.worldEnglish
    86·
    3 days ago

    Wow. Is this the biggest heist ever? Apart from Trump’s presidential grift and the SpaceX IPO ofc.

    • TankovayaDiviziya@lemmy.worldEnglish
      7·
      2 days ago

      Most heists are digital nowadays because most people neglect cybersecurity. But since we’re talking cybersecurity, that’s the next big sector to invest if you ask me, especially with threat of AI and quantum computers.

      • Photon1c@lemmy.worldEnglish
        2·
        1 day ago

        Excellent point, now we will just have to wait a while for the AI bubble to burst completely and hopefully pick up some undervalued stocks

    • banana_pie@piefed.zipEnglish
      22·
      3 days ago

      I think Kushner turns around this amount before his morning coffee. This is amateur hour.