Hackers Steal $6.3 Billion from Binance in Rapid Heist
Binance lost $6.3 billion in a 20-minute cyberattack as the FBI warned of critical vulnerabilities in the PHP programming language.
Hackers stole $6.3 billion from Binance, the world's largest cryptocurrency exchange, during a heist that lasted only 20 minutes. This massive theft occurred alongside a warning from the Federal Bureau of Investigation regarding critical vulnerabilities in PHP, a programming language that powers roughly 70% of websites globally. The FBI urged organizations to apply security patches or take their websites offline to prevent further attacks.
Yinzhi Cao, a computer science professor at Johns Hopkins University, stated that artificial intelligence is accelerating the pace of cybercrime. Cao noted that commercial AI tools now allow less experienced attackers, known as script kids, to compromise critical services, including banks in South Korea. While AI facilitates faster attacks, Cao observed that it also helps security researchers identify and patch vulnerabilities more efficiently.
