How North Korea Stole $6.3 Billion From Binance Without a Private Key

A compromised developer laptop and 50 pre-signed transactions let North Korea drain $6.3 billion from Binance. Jonty and Pablo Sabbatella trace how it happened. 🔥 EPISODE LINK 🔥 https://unchainedcrypto.com/how-north-korea-stole-6-3-billion-from-binance-in-20-minutes ======================================================================== Thank you to our sponsor! 👉 Put your crypto to work with Nexo: earn daily interest or borrow funds against your assets on one platform trusted by more than 10 million clients. Find out more at https://unchainedcrypto.com/go/nexo-podcast-yt. Geo-restrictions, eligibility and terms apply. 👉 With Election Day on November 3, crypto voters could make the difference in close races. Check where candidates stand on crypto, verify your registration, and make your voting plan at Stand With Crypto’s Voter Hub https://unchainedcrypto.com/go/standwithcrypto-sn ======================================================================== Quick favor: We're deciding what Unchained does next; new shows, stream times, what's worth paying for. Our listener survey (https://unchainedcrypto.com/survey) takes five minutes, it's anonymous, and I read the write-in answers myself. Everyone who finishes it gets a free month of Premium, Unchained or Bits + Bips, your pick. Open through Sunday, November 8. — Laura ======================================================================== North Korea only needed 20 minutes to take $6.3 billion from Binance in the largest hack in history, not just crypto history. According to Binance, one of the attack vectors started with a compromised developer laptop, which ultimately led to the attackers being able to sign transactions from the exchange's hot wallets. Jonty, founder of Pangolin Intelligence, and Pablo Sabbatella, founder of Opsek, trace how an EIP-7702 upgrade let the hackers sweep those wallets, why roughly 43% of the funds were frozen compared with less than 3% after Bybit, and how Circle, Tether, Arbitrum's Security Council and Aave responded. They also debate how decentralized THORChain really is, why the FBI named THOR node operators, and how TraderTraitor lures developers with fake job interviews. With Chainalysis tying nearly 89% of this year's reported hack losses to North Korea, Pablo and Jonty lay out the security and anti-laundering steps the industry could take before the next attack. Host: 👉 Laura Shin - Founder, CEO and Host of Unchained - https://x.com/laurashin Guest: 👉 Jonty (tanuki42) - Founder of Pangolin Intelligence - https://x.com/tanuki42_ 👉 Pablo Sabbatella - Founder of Opsek - https://x.com/pablosabbatella Timestamps: 🎬 00:00 Intro 📋 00:26 Unchained Survey: complete the listener survey at https://unchainedcrypto.com/survey 🚨 02:08 How North Korea took $6.3 billion from Binance in about 20 minutes 🔑 07:51 Why the EIP-7702 delegation made the drain faster 💰 17:35 Nexo: earn daily interest on your crypto or borrow against your assets at https://unchainedcrypto.com/go/nexo-podcast-yt 🗳️ 17:52 Stand With Crypto: see where candidates stand on crypto and make your voting plan at https://unchainedcrypto.com/go/standwithcrypto-yt ⛓️ 18:31 Which chains were hit and where exchange signing infrastructure fails 🏦 23:00 Should Binance have held $6 billion in hot wallets? 🧊 29:18 Why Circle and Tether moved fast to freeze the stolen funds 🏛️ 35:38 How the hackers borrowed nearly 20,000 ETH on Aave 🔄 40:37 Is Binance liquidity helping launder funds through THORChain? ⚖️ 45:51 How decentralized is THORChain after a three-vote halt? 🚔 54:19 What the FBI naming THOR node operators signals 🤖 01:02:33 Why the laundering trail looks machine-driven 🕵️ 01:06:06 Who TraderTraitor is and how fake job interviews hack developers 🛡️ 01:13:00 What the industry should change to stop North Korea ======================================================================== #bitcoin #ethereum #crypto #cryptocurrencies ======================================================================== Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!