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Binance hackers had eight weeks of access before $6.3 billion exploit

Security Alliance estimates hackers had access to Binance for eight weeks before a $6.3 billion exploit. Elliptic says they swapped $50 million of stolen XRP, mostly into bitcoin.

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Security Alliance estimates that the hackers behind a $6.3 billion exploit on Binance had access for eight weeks before they acted. An exploit is an attack that takes advantage of a weakness in a system.

Crypto

Blockchain analysis firm Elliptic says the hackers then swapped $50 million of stolen XRP. They used THORChain, a service that lets people swap one crypto asset for another across blockchains. The swaps went mostly into bitcoin, and one headline figure put the amount at 1,650 BTC.

In numbers

  • $6.3 billionBinance exploit size
  • $50 millionStolen XRP swapped
  • 1,650 BTCBitcoin received

XRP, the past month

$1.18down −21.12%

$1.50$1.187 Oct6 Nov
XRP$1.18down −21.12%over 1 month
$1.50$1.187 Oct6 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

Also in this story

Bitcoindown −11.67%1 month

$1,000 in XRP

Had you put $ into XRP a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

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Markets
XRP, Bitcoin

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
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