HACKERS used fake job interviews and malware-infected work assignments to infiltrate Binance's internal systems in a sophisticated cyberattack that resulted in the loss of US$6.3 billion (RM25.69 billion) in cryptocurrency assets.
Reuters reported that the world's largest cryptocurrency exchange said preliminary findings showed that the attackers carefully orchestrated a multi-stage social engineering campaign targeting its engineering personnel.
The hackers allegedly posed as recruiters on legitimate job-search platforms and invited a Binance engineer to attend several fake interviews with representatives of non-existent companies.
They then used social media accounts featuring personal photographs to build credibility before persuading the engineer to download a purported work assignment containing malicious software.
Once installed, the malware gave the attackers access to the engineer's computer and enabled them to compromise Binance's internal tools.
The attackers subsequently exploited the compromised computer and an internal artificial intelligence (AI) tool to gain access to the laptops of two other engineers before launching the main attack.
The breach forced Binance to temporarily suspend customer withdrawals worldwide, with services restored last Sunday.
The company described the incident as a serious security breach and apologised to its users and industry partners.
Binance said it was working with law enforcement agencies to trace and freeze the stolen assets, adding that more than 98 per cent of the affected token assets had been replaced as of Saturday.
It also said sufficient funds had been allocated to cover the entire loss.
United States agencies, including the Federal Bureau of Investigation (FBI) and the Secret Service, are assisting investigations and efforts to trace the stolen funds.
Binance said it would increase investment in AI-powered security systems to detect emerging threats and appoint independent cybersecurity specialists to conduct a comprehensive review of the incident. - November 4, 2026
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