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Analysis-Binance hack reveals cryptos uphill battle against hackers

Neha Kumari
By Neha Kumari

Nov 11 (Reuters) – An elite North Korean hacking group’s $6.3 billion theft from Binance is renewing scrutiny of a longstanding weakness in the cryptocurrency industry: hackers may need to compromise only one employee to get inside, while inconsistent security practices can allow them to turn that foothold into a massive theft.

The October 29 heist, described by experts as the largest cryptocurrency theft ever, unfolded in a matter of minutes after months of planning and preparation, according to Binance’s initial investigation.

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