THE STREET · 2026-11-04 14:24 UTC

Binance founder issues chilling warning after record crypto heist

Binance suffered a $6.34 billion hack on Oct. 29, with $2.85 billion frozen or intercepted; the FBI blamed North Korea. Binance covered all losses using its own funds. Founder CZ Zhao warned that AI is enabling faster cyberattacks than institutions can defend against, calling for industry-wide security standards and AI-based defenses. The attack began in September when an engineer was socially engineered into downloading malicious code, then used to compromise other systems over months.

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