Bankless · Friday, October 30, 2026
TRM Labs executive Ari Redbord discusses a massive $6 billion exchange hack on Binance, which he attributes to North Korea. Redbord notes that the exploit involved sophisticated preparation, including small TornadoCash withdrawals and testing attack code on wallets prior to the breach.
“We've now seen North Korea steal about six, seven, eight billion in the last six years or so, and then we saw them steal six billion yesterday evening.”
“The attack code was tested on two wallets, then rehearsed on a third with test funds routed back to the attacker and only then installed on that Binance hot wallet.”