HN

Need help?
<- Back
The $6.3B Binance hack was pulled off in just 20 minutes

The $6.3B Binance hack was pulled off in just 20 minutes

domhudson

Comments (153)

  • lordnacho
    The heist itself only took 20 minutes, but the preparation is a business that has gone on for years. Much like a heist movie, the exciting bit is just the conclusion after a long build-up where Danny gets the gang together, plans it, and executes it.
  • jakaroo
    The short duration of this crypto hack isn't particularly noteworthy. Of course it takes time to find or design the exploit, but execution is typically very quick for such events
  • gurkwart
    Something tells me that the timing of the Claude Code supply chain attack is not a coincidence ...https://cyberplace.social/@GossiTheDog/117528831681803563
  • pixl97
    When seconds matter we'll patch our systems in days to weeks.
  • dgrin91
    I wonder what the actual attack vectors here were. Was there actually a hack into binance systems, or was it just some insider or credential leak?
  • amelius
    Crypto is the canary.
  • efields
    I'd watch all 20 minutes of that screen share.
  • hn_submit
    I'm stunned that they had that much cryptocoin online to be stolen. Why didn't they put it in "cold storage" and only some information in the database which says how much each customer had?OTOH I heard that the culprits didn't steal the private keys of the affected customers. If this is true the stolen cryptocoins are worthless.
  • hattmall
    Binance having an extra $6B to cover this is wild to me.
  • bagacrap
    The funds were simply de-centralized. Seems by design?
  • jjallen
    As a former crypto proponent, after ~17 years I think we have to have a real discussion about the value crypto does or doesn't bring to the world.Sure, it let's some people keep their savings safe from dictatorial countries. But it also fuels other dictators that are doing pretty nasty stuff to their own people. And crypto is facilitating that.
  • chuckadams
    Most successful bank heists are in and out in less than five minutes. Or were anyway, there's a reason you don't hear about them these days.
  • qaz_plm
  • pyrale
    Not quite the nanosecond buyout yet, but we're getting there.
  • 1970-01-01
    Excellent, now make sure all of it gets into the 90 minute movie.
  • m00dy
    yeah executed in 20minutes, how about planning phase ?
  • sharts
    Perhaps the culprit deserves to keep it all like all billionaires. Fair is fair.
  • szemy2
    [flagged]
  • quietFerry94
    [dead]