Binance Founder Warns of Ongoing North Korean Cyber Threats

Key Points:Binance’s CZ warns crypto teams of North Korean hacker threats.A breach caused over $400 million loss at a US exchange.Heightened security is urged to prevent further incidents. Binance co-founder Zhao Changpeng issued a warning on the X platform regarding North Korean hacker threats after a hack at an Indian outsourcing firm caused $400 million in losses at a U.S. exchange. This highlights ongoing cybersecurity risks in the crypto industry, urging platforms to enhance security measures to protect user assets and prevent similar large-scale breaches. Binance Urges Crypto Platforms to Harden Cybersecurity Zhao Changpeng emphasized that North Korean hackers pose serious threats to Binance and other crypto platforms. A stated breach at an Indian outsourcing company led to leaked data from a major US exchange, causing user asset losses exceeding $400 million. Training employees and screening candidates are critical steps Zhao advised to combat such security risks. Consequently, the event triggered significant concern around the integrity of user data and assets, pushing crypto entities to reinforce their security protocols immediately. Potential financial repercussions for affected users and exchanges have highlighted vulnerabilities in third-party vendor management. “These North Korean hackers are advanced, creative, and patient. … Just a few months ago, a major outsourcing service in India was hacked, leaking user data from a major exchange in the U.S., resulting in user asset losses of over $400 million. Such things are still happening. For all crypto platforms, train your employees not to download files and carefully screen your candidates. Stay vigilant!” – Zhao Changpeng (CZ), Founder, Binance Historical Context, Price Data, and Expert Analysis Did you know? The $400 million loss mirrors past crypto sector incidents similar to the 2020 KuCoin hack, which also raised significant security discussions within the industry. According to CoinMarketCap, Ethereum (ETH) is currently priced at $4,564.02 with a market dominance of 13.46% and a 24-hour trading volume reaching $48.72 billion, increasing by 43.74%. The price of ETH has seen varied increases, showing resilience with an 81.10% increase over the past 90 days. Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 06:35 UTC on September 18, 2025. Source: CoinMarketCap Coincu research suggests the financial sector may endure long-term impacts, potentially leading to more stringent regulatory requirements for data privacy and handling. Proactive measures such as enhanced cyber defenses and vendor audits are urged for mitigating looming risks in these unpredictable techno-environments. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.