No Evidence A.I. Was Used In Binance Hack: Reports

Multiple media reports say that there is no immediate evidence that artificial intelligence (A.I.) was used in the $6.4 billion U.S. hack of cryptocurrency exchange Binance. 

Investigators of the theft at Binance have found no evidence that the cybercriminals used A.I. to pull off the online heist and launder the proceeds.

The Federal Bureau of Investigation (FBI) in the U.S. has confirmed that the theft was carried out by North Korea’s TraderTraitor hacking group.

However, the FBI and other investigators say that it appears the hackers used about 20 automated software services to move the stolen funds through decentralized exchanges.

There are no immediate signs that the hackers employed A.I. or other advanced technologies to gain access to Binance’s exchange and steal the $6.4 billion U.S. worth of crypto.  

There are growing concerns in the crypto sector that A.I. agents and quantum computers are able to break the cryptography and digital wallets that protect and store digital assets. 

Blockchain intelligence firm Elliptic said over the weekend that the transactions look more like a conventional software hack run by humans rather than any evidence that A.I. was employed.

“Our assessment is that the laundering is automated, but nothing we have seen shows an AI agent making decisions,” said Elliptic. 

Binance has said that it has managed to freeze about 44% of the stolen funds. However, the hackers still control $3.28 billion U.S. spread across more than 950 digital wallets. 

The hack and theft have raised questions about the security of digital assets such as Bitcoin (CRYPTO: $BTC) and shaken confidence in the security of central exchanges such as Binance.

Binance is privately held and its stock does not trade on a public exchange. Bitcoin’s price has fallen to $78,000 U.S. in the days since the hack occurred.