There is more to this case than we know

[Cryptomultiplier]

When other exchanges were hacked, within a very short period, we realized who is behind it and currently binance have not come out to mention names. I was not comfortable with this respond because North Korea have been pointed hand to, in the past they could not be able to defend them which shows clearly that the were involved. But as for binance I think it is a different dimension which was why they media are now pointing fingers at North Korea and North Korea has come out to defend themselves. I am just waiting to see how this whole incident happened, I will give them few days to see what binance will say about the issue.

Based on the latest binance report, it all started from the job search platform, basically the hacker applied and interacted with one of the DevOps which is a kind of social engineering (social engineering) offering developers applications that they have modified, even binance anti-virus cannot detect it. DevOps downloaded the app and it was all chaos at first. Chronology and plot can be seen in this article https://www.binance.com/en/square/post/384328127385979

The question is, Is it an individual? group? lazarus group or another actor?

I hardly think it's just an individual behind the scenes of this attack because from my research, the automated laundering method used along with the speed of the attack including 11 Blockchain spread, shows it's more than just an individual responsibility. It must have been a group of highly coordinated individuals who used similar tactics of past NK state sponsored hacks.

Everyone is calm about it including Trump, CZ and even the NK government because a case like this requires some form of proof before fingers start pointing at each other in other to avoid a rise in tension and the begin of collapse of a government or systems of government.

[noorman0]

I hardly think it's just an individual behind the scenes of this attack because from my research, the automated laundering method used along with the speed of the attack including 11 Blockchain spread, shows it's more than just an individual responsibility. It must have been a group of highly coordinated individuals who used similar tactics of past NK state sponsored hacks.

Technology has now reached a level of automation capable of handling complex, heavy-duty tasks, meaning that individual roles even at a granular level cannot be ruled out. I even came across a report in some media outlet (I forget which one) explaining that all the necessary infrastructure for these hacks was prepared in advance, from setting up wallets,  the mapping of fund transfers, what platforms for laundering the stolen assets, and so on.

[Juse14]

CZ doesn't even seem pissed about it, he want the SAFU fund to replace it sharply.
Isn't this the case of more than meet the eye?

We always assume that SAFU funds will cover the losses but in reality, SAFU funds are not more than $1 billion. Binance being able to cover the losses of their clients is because they are very profitable, because if not they would have already collapsed. Another hack of that amount, I think they can still cover it since they have been in the business for a long time, so they surely have a lot of cash reserves, and in 2024–2025 their reported estimated profit was around $17 billion, so judging by that, I would say they are liquid enough.

Even though their safe funds are not worth the losses they feel due to this hack, but I think just like you that they can cover those losses because they have a lot of profits every year, especially in the previous bull market, their transactions are always crowded and being the top 1 largest exchange for quite a long time, it is very unlikely that they do not keep money as a second and third defense.

Is that $17 billion profit figure you mentioned net or gross profit? since I think Binance is also investing into its ecosystem, I'm very curious about the net profit report.
And I received the news that they bought Bitcoin on the OTC market, I thought if they made a purchase on the public market it would boost the price.

[Odogwu-Blockchain]

I don't care who is behind the hack or not, whether USA or North Korea. Binance is the cause of everything, the investigation should be done on the insider staff of Binance especially those who are the IT experts, for failing to secure the vulnerable points in Binance.

If this is the first time Binance is getting hacked, I won't blame them, but the second mistake needs to be looked into, the FBI needs to do some thorough internal investigation before external.

[batang_bitcoin]

Why is Trump silent about it? If that 6 Billion was stolen from US will he kept quiet?

That is because he's thinking of the mid term elections and the result didn't come into his party's favor. And this is why I think he's not too concerned about the biggest hack that happened to binance. But if it's going to benefit him and his party, I think that he'll voice it out just like how he's too vocal about bitcoin during the campaign period. Isn't it enough that there are takers of this heist and they've traced who the attackers are?

[goldkingcoiner]

I keep feeling like someone well known other than North Korea is behind that Binance attack, and this news just proven that I might be wrong after all.

When you are accusing someone or a country, when the remain silent it's likely they are the culprit, but in the case of North Korea they have never fought for themselves over these accusations until now.

Even FBI investigation said they are responsible, how so? Any proof? None I guess.
And why the Midterm election period?




https://x.com/BitcoinNewsCom/status/2117552949467677016?a=Ybegy2DtimkUdVp9yf8&s=19
Why is Trump silent about it? If that 6 Billion was stolen from US will he kept quiet? So unlike him.

CZ doesn't even seem pissed about it, he want the SAFU fund to replace it sharply.
Isn't this the case of more than meet the eye?

A hack that came from a single laptop? That is the bs that I straight up refuse to believe. Binance and CZ need to be monitored more closely. Just like Justin Sun, we all know what these centralized exchange ceos are really capable of. I doubt that most hacks on centralized exchanges are from real outsiders. I think it is all pre-planned by the very same people who operate these damn traps.

Do not fall for the CEX trap.

[obuoma]

North Korea have never denied all the accusations in the past but denying this Binance hack this time makes it a little complicated.  Could it be that some people are now hiding under North Korea do perpetrate their crimes knowing fully well that as soon as North Korea is blamed, everyone relaxes and act as if nothing happened? The Lazarus group may be linked to North Korea but it is absolutely difficult to believe that they are the only bad actors with the technical knowledge to execute all the major hacks we have seen. Some people might be using their name to perform some of these crimes.

[ColdLava40]

I keep feeling like someone well known other than North Korea is behind that Binance attack, and this news just proven that I might be wrong after all.

I don't know how much of the funds safu can replace.

Trump maybe silent for other reasons, he will definitely have something to say or respond later on. It's somewhat wrong to point fingers at times like this. But we know that for some facts, most of these global hacks continues to point back to the north Korean group.

There might be no solid evidence because all are just speculation but since they have been previous evidence of them been linked to such attacks then it's expected.

[Findingnemo]

We can't do anything other than just speculate, there is a point here, though and there might be some hidden agenda, or North Korea just knew how to play the cards in the right way with US confiscation policies.

And there are certain things that never reach the light so we just keep speculating endlessly.

[JoyMarsha]

Is it when North Korea speaks out that you and others will know that North Korea is not responsible for the Binance hack. North Korea may be choosing to stay silent about this, that doesn't make them responsible. Remember, no strong evidence is provided.

From what I learnt, North Korea has replied to the accusation leveled against them by the FBI by saying this is a grave political provocation(the FBI is taking very serious action that is meant to provoke them)

[lombok]

We can't do anything other than just speculate, there is a point here, though and there might be some hidden agenda, or North Korea just knew how to play the cards in the right way with US confiscation policies.

And there are certain things that never reach the light so we just keep speculating endlessly.

This concern can be easily understood considering the nature of these sorts of cases which almost always have something left unanswered. There is a lot of evidence of hacking gangs associated with North Korea, and there is enough authority with the US government to seize virtual property. Nevertheless, in the absence of any official documents or available evidence, any sort of concerns regarding hidden motives are just speculations. It is always better to distinguish between confirmed news and rumors going around in social media.

[Josefjix]

We can't do anything other than just speculate, there is a point here, though and there might be some hidden agenda, or North Korea just knew how to play the cards in the right way with US confiscation policies.

And there are certain things that never reach the light so we just keep speculating endlessly.

Even when we keep speculating, those behind won't be caught the same way others who hacked cex had never been caught. You think these hackers will never fight back to stay anonymous? Jokes on you if you think that.
They've been in the game, they know how to go about it and won't be caught, there is nothing anyone could do. It's from the hackers to send back to Binance or not, nothing really Binance can do.