Binance says its initial investigation into last week’s $6.3 billion cryptocurrency theft found that the attack began in June. The company said hackers used a manipulated AI tool and a fake job interview to gain access to systems connected to its wallet development team.
In June, an employee working on Binance’s digital wallet downloaded an AI tool, according to the exchange. Binance detected the issue and changed passwords, but the attackers allegedly obtained information about the employee and several colleagues.
In September, another software developer downloaded what Binance described as malicious code repositories while taking part in a virtual job interview with the chief executive of a fictitious company.
The attackers allegedly took control of the IT systems of the wallet developer and one colleague on October 20, using the second developer’s computer and an AI tool. Nine days later, they used that colleague’s computer and passwords stolen from the first employee to place a malicious script that carried out the attack, Binance said.
The FBI and private analysis firms have attributed the attack to state-backed North Korean hackers. Binance apologized for the disruption and concern caused to users, partners and the wider industry.
Customers initially withdrew $4.6 billion from Binance after the attack, the company said. About $1 billion has since returned. Experts cited in the report said institutional investors could become more cautious, potentially slowing expected investment in the crypto market.
Sources: Handelsblatt.