Is North Korea responsible for the Binance crypto hack?

Almost $9 billion worth of crypto has been stolen from the world's largest cryptocurrency exchange platform Binance.

It's believed to be the biggest crypto heist in history.

The attack involved fake job interviews, malware and compromised work devices, with investigators pointing to North Korea - an allegation Pyongyang currently denies. Billions have been frozen, but billions more remain in circulation.

So how vulnerable is the crypto industry to this kind of attack? And if Binance is covering customer losses, has is, and others like it, avoided a crisis - or simply hidden the scale of a major problem?

Investigative journalist and author of The Lazarus Heist Geoff White is an expert on the subject. In this episode of ABC Business Daily, he tells Carrington Clarke why crypto remains more vulnerable than traditional banking, why holders should remember that “you are your own security”, and how hacking could become an increasingly important source of funding for North Korea.

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