Binance will survive the $6.3 billion hack—but this is the start of a terrifying new era

From the source

It’s been more than 72 hours since North Koreans robbed Binance in the biggest hack in crypto history and, by all indications, things will be fine. The company’s executives, who went days without sleep to evict the hackers, have gotten the exchange up and running again—all without imposing a haircut on their customers. That’s the good news. The bad news is that the Binance incident is just part of a scary new wave of hacking that cyber experts are calling Black October—and that could be just a preview of a coming wave of attacks against the broader internet. Before turning to the bigger picture, it’s worth recounting just what happened at Binance. A simplified version goes like this: The vile North Korean regime, which relies on crime to keep Dear Leader in power, got into a laptop belonging to a Binance engineer and installed so-called sweeping tools that moved crypto from the company’s wallets to ones controlled by the hackers. The operation was sophisticated enough that it not…

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• Finance-aware sentiment: negative (-0.50 on a -1 to +1 scale).
• Event classification: OTHER.
• Market importance score: 32/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.