Biggest Hack in Crypto History: What You Need to Know

The Binance breach is the biggest hack in crypto history, and TRM Labs links it to North Korea. One valid EIP-7702 authorization gave the attacker control of a major Binance hot wallet. The malicious delegation stayed active and drained new deposits without another signature. Binance is covering losses from company funds while issuers freeze stolen stablecoins. The biggest hack in crypto history hit Binance on October 29, when an attacker drained roughly $6.3 billion from the exchange’s wallets on ten blockchains, most of it within about 20 minutes.