US regulators contact banks after Binance's $6.3B hack: report

US regulators have reportedly approached banks to check for unusual activity or disruptions following the $6.3 billion Binance hack.

Banks in the US are also said to be reviewing their own security systems to determine their readiness for a similar attack, attempting to learn from the incident.

According to Reuters, citing unnamed sources, officials from the Federal Reserve and the Office of the Comptroller of the Currency have contacted banks to measure the hack's impact.

A source whose bank was contacted reported no service disruptions, but noted that the bank has prepared statements for customer inquiries.

Another source claimed that the rapid development of AI has forced banks to increase cybersecurity spending, even as they struggle to keep up with hackers.

Reuters also reported that the cybersecurity team of one of the largest US banks contacted Binance after the hack. The team aims to create an internal report reviewing the bank's security systems.

Binance hack caused by malicious ad and fake job interview

Binance was hacked on October 29 after a series of security breaches involving three employees.

One engineer, searching for a popular AI coding tool, clicked on a malicious search engine ad for a software installer and downloaded a malware-laden program.

Binance detected and dealt with that breach, but the engineer's details and his team had already been leaked.

Three months later, another engineer was tricked into a fake job interview, which led them to download an "assignment" containing malicious code.

That malware extracted sensitive information from the engineer, and by October 29 it was able to log into a third engineer's computer and activate the malicious script that caused the $6.3 billion hack.