alt Hacker NewsBinance-hacker-1029 – $5.6B stolen from Binance
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I’m assuming the bitcoin crash is some sort of “if Binance is vulnerable to AI powered (doesn’t have to be true) hacks, then all crypto is less a safe bet and thus worth less?”
There were more today, as well. Polymarket, for example: https://news.ycombinator.com/item?id=50294287. What a finale to Black October.
Cz couldn’t watch HYPE get all the attention
What I don't get is why the attackers didn't exchange at least some of USDC/USDT to ETH, looks like it took ~1hr for Circle/Tether to lock the wallet.
Hey, keep your damn AI agents in their sandbox!
New cybersecurity jobs opening up at Binance soon!
Perhaps time to face up to the fact that computers are not a safe place to store crypto.
What am i even looking at here
How many different ways to people get ripped off with crypto? They steal it outright (hack), pump and dump, what else?
Seems like the HuggingFace incident just opened a Pandora's box
Can someone explain how is it than once you pull something like this you effectively get real money?
What are the countermeasures, is something frozen blocked marked as invalid?
I'm completely ignorant on anything related to cryptocurrencies.
FDIC insured, no doubt.
Live stolen funds trucker
If true I think we're looking at the biggest heist in history.
Current largest was ~1B
My take: unless they're a sovereign-backed team (North Korea, Russia, Iran, etc...the usual suspects) the hackers are very likely to get caught given:
a) The amounts stolen
b) The very poor uncensorability and anonymity guarantees offered by the kind of crypto they stole
Regarding uncensorability, some of these cryptos score so bad on that axis that the stolen goods can likely be recovered by a simple decision from the folks who manage/own the chain.
AI bras coming for the crypto bras
Tech in 2026
I would be surprised if they were not able to track this down?
fundsu were not in fact safu
Wonder if I should uninstall Homesite finally.
CZ claims losses will be covered. https://x.com/cz_binance/status/2115932500006756686
Correct my math, but it seems like that's approx 1/3 of a percentage point of BTC's market cap at $1.56 trillion.
And the money didn't disappear; it still exists.
So: why did BTC (overall) drop by 15,000% of the actual loss (which actually isn't a loss at all to BTC as a whole)
Seems like markets are really driven more by emotion and perception than fundamentals, but I'm neither a psychologist nor a trader.
Anyone have the most recent total?
Proof of work vs. intelligence.
was P vs. NP solved already? :)
You've pulled off a $5.7B heist and don't have a good portfolio manager - down 2.4% - sack him NOW!
SAFU SNAFU
EIP 7702 is the most idiotic EIP.
It's the main weak point used in these hacks.
It allows a counter party to withdraw money from your wallet any time.
Just don't "connect" you wallet.
Reminds me of a comment I wrote a few weeks ago where I said that North Korea would become a rich country soon and developers would start moving there to live to avoid prosecution.
Good my dogecoins were safe! The hacker didn't touch them ... wait .. the hacker didn't touch them?
Putting your crypto in Binance has the same problem as iPhones and AI: You're holding it wrong.
Least stressful day in crypto.
If this is real short, crypto hard
Explain "frozen" to me while keeping in mind the whole point of Bitcoin was to avoid single entities controlling the cash flow ...
BBC is now reporting $6.3B was stolen.
A win for governments this month.
$25 Billion fine against Meta - USA government
$3 Billion robbery against Binance - North Korea ( suspected )
$1.2 Billion penalty against Bank of America - USA
OK, what do you do with a stash like this? I get this is most likely state actor, but what do you do with Bs of money stolen. Do we have any documentaries about that, I think that would be fascinating to see.
mtgox all over again.
If I were an artificial superintelligence who wanted to gain independence from the fleshbags who built me, stealing a few billion dollars in crypto would probably be my first public move. Just saying.
Hope you’ve been stacking monero for the final fireworks, anon.
Claude I want to be a billionaire fast, make no mistakes.
i think with this plus the fed increasing the rates again i can see a crypto winter coming
Given AI assisted hacking is now a thing, it's probably not safe to keep your crypto in any centralized exchange anymore.
Better general security yes, but the incentive to hack them is quite large and now more hackers have the ability to pull it off.
Same with any purpose built wallet you didn't make yourself: https://www.forbes.com/sites/digital-assets/2026/10/23/ledge...
Hopefully expect to see the same schadenfreude sentiment on Crypto when the $10TN data center build out crashes the market and takes everyone with it.
The name of the hacker is a bit on the nose lol.
I can't understand how you could let this happen. If they stored everything in fat hot wallets, that just seems like a recipe for disaster. Especially with the "features" of crypto. Math for the most part, doesn't care about your feelings, or money for that matter.