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An independent record of the October 2026 Binance hack
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The lab's global head of policy Ari Redbord told the BBC the Binance hack is a "watershed moment" that is unlike anything the industry has seen. The attacker still holds an enormous sum of stolen assets, meaning efforts to trace and recover the funds are far from over, Redbord added.
In a series of posts, Yi He, Binance's co-chief executive, thanked various cryptocurrency issuers for freezing the assets. "Safety first: withdrawals are currently disabled until the environment is confirmed to be secure," she said.
Check Point's Dave said this attack also resembled a hack on crypto exchange platform Bitget in September in which $388m (£289m) was lost: "This implies that attackers no longer need the vault keys. They target the systems and people with authority to use them."
Chainalysis, a crypto analytics firm, also said it has "high confidence" that the North Korean group are linked to the hack.
Check Point's chief information security officer Jayant Dave said the losses estimated by Binance made it "the largest crypto theft on record".
in which $388m (£289m) was lost