Binance lost approximately $6.3 billion in a cyberattack linked to North Korean hackers, marking the largest cryptocurrency theft on record. According to Insurance Business, the exchange had no cyber insurance to cover the loss and is using its own funds to reimburse affected users.

The FBI attributed the attack to TraderTraitor, a North Korean state-backed hacking group. North Korea denies involvement.

Attack Began With Fake Recruitment Scheme

According to Binance’s incident report, the attack began in June when an employee downloaded a compromised installer for an AI coding assistant. The software allowed attackers to identify employees working on Binance’s wallet systems.

In September, attackers posing as recruiters…