FT · 2026-11-03 22:08 UTC

Transcript: What Binance's historic heist means for crypto

Binance, one of the largest crypto trading platforms, was hacked in what is described as the biggest heist of all time, with over $6 billion in crypto stolen in half an hour. The breach resulted from a low-tech social engineering attack where hackers created a fake company and fake employees to trick a Binance software engineer through fake job interviews. The incident occurred despite a recent Bitcoin conference in Lugano where crypto enthusiasts expressed confidence in the sector, with cybersecurity receiving minimal attention at the event.

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