Spooked US regulators are reportedly contacting banks to probe for unusual activity or disruptions in the wake of the $6.3 billion Binance hack.
US banks are also trying to learn from the hack and are reportedly checking their own security systems to figure out if they’re prepared to respond to a similar hack.
That’s according to various sources speaking to Reuters, which reports that officials from the Federal Reserve and the Office of the Comptroller of the Currency have been reaching out to banks to assess the impact of the Binance hack.
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One source whose bank was contacted said there weren’t any disruptions to their services, but that they’ve prepared statements for customer inquiries.
Another claimed that AI’s rapid evolution has meant banks are having to commit even more resources to cybersecurity while struggling to keep up with hackers.
Reuters also reported that a cybersecurity team at one of the largest US banks contacted Binance in the wake of the hack. Its goal is to create its own internal report that will review the bank’s security systems.
Binance hack caused by malicious ad and fake job interview
Binance was hacked on October 29 following a series of security breaches targeting three Binance employees.
An engineer looking for a popular AI coding tool first clicked on a malicious search engine ad for a software installation program before downloading the malware-laden program.
This security breach was detected and dealt with by Binance, but the details of the engineer and his team had already been leaked.
Three months later, another Binance engineer was tricked into a fake job interview, which led to them downloading an “assignment” containing malicious code.
This malware subsequently extracted sensitive information from the engineer, and by October 29, it was able to log into a third Binance engineer’s computer and launch the malicious script that caused the $6.3 billion hack.
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