What We Know About the $6.3 Billion Binance Cryptocurrency Heist

Study the questions and tasks

Work through the material below, or start the interactive practice above to complete an attempt. Try the exercises before opening any answer or transcript sections, then use them to review your work.

Practice level

C1. Try this level if you can follow the instructions and understand most of the language; choose an earlier level if you need more support.

Question formats

Single choice

How to approach this practice

Read the questions, then listen before opening the transcript. Notice names, numbers and any corrections the speaker makes.

1. Question 1 · Single choice

   Choose one answer.

   Which customers does the report identify as affected by the breach?

   Return to the passage, recording or visual
   1. Only military organizations
   2. Financial institutions, experienced traders, and ordinary investors
   3. Exclusively government agencies
   4. Only cryptocurrency exchange employees
   Check answers and explanations

   Answer

   Financial institutions, experienced traders, and ordinary investors

   The report specifies three broad customer groups using the exchange.

   Its customers range from financial institutions and experienced traders to ordinary investors.

2. Question 2 · Single choice

   Choose one answer.

   What happened on Saturday?

   Return to the passage, recording or visual
   1. Binance launched its exchange
   2. The attackers entered the accounts
   3. The FBI confirmed North Korea’s responsibility
   4. Customers received complete repayment
   Check answers and explanations

   Answer

   The FBI confirmed North Korea’s responsibility

   Saturday marks the FBI’s confirmation of North Korean responsibility.

   The FBI confirmed on Saturday that North Korea was behind the hack.

3. Question 3 · Single choice

   Choose one answer.

   What enabled the attackers to avoid taking full possession of some assets?

   Return to the passage, recording or visual
   1. A military ceasefire
   2. A coordinated asset freeze
   3. A decline in cryptocurrency prices
   4. A conventional banking procedure
   Check answers and explanations

   Answer

   A coordinated asset freeze

   Coordinated action by Binance and partners blocked access to funds.

   Binance, working with other exchanges and partners, has frozen about $3 billion in stolen cryptocurrency, preventing the hackers from taking full possession of those assets.

4. Question 4 · Single choice

   Choose one answer.

   What has not been explained about customer repayment?

   Return to the passage, recording or visual
   1. Which customers held accounts
   2. When the hack occurred
   3. The precise repayment mechanism
   4. Why digital assets move quickly
   Check answers and explanations

   Answer

   The precise repayment mechanism

   The exchange announced repayment without describing its exact process.

   The exchange has also said it will repay customers who were affected, although the precise mechanism for doing so has not been explained.

5. Question 5 · Single choice

   Choose one answer.

   What does the speaker emphasize about digital assets?

   Return to the passage, recording or visual
   1. They move slowly between institutions.
   2. They are impossible to freeze after theft.
   3. They can move across the internet almost instantly.
   4. They require physical transport between exchanges.
   Check answers and explanations

   Answer

   They can move across the internet almost instantly.

   The concluding claim highlights their capacity for near-instant movement.

   Its speed demonstrates how digital assets can move across the internet almost instantly, while the unresolved questions about access and compensation leave the exchange facing continued scrutiny.

6. Question 6 · Single choice

   Choose one answer.

   Which development preceded the industry’s renewed security concerns?

   Return to the passage, recording or visual
   1. The introduction of Bitcoin
   2. The attack on the exchange
   3. The publication of a repayment schedule
   4. The closure of conventional banks
   Check answers and explanations

   Answer

   The attack on the exchange

   The attack itself triggered fresh questions about platform protection.

   The attack has unsettled the cryptocurrency industry, reviving questions about whether digital-asset platforms can protect customers against highly organized intrusions.

7. Question 7 · Single choice

   Choose one answer.

   What broader pattern does the report associate with the operation?

   Return to the passage, recording or visual
   1. A pattern of North Korean cyber heists
   2. A series of conventional bank mergers
   3. A global decline in digital trading
   4. A campaign against ordinary investors
   Check answers and explanations

   Answer

   A pattern of North Korean cyber heists

   The alleged unit is linked to other North Korean cyber heists.

   The group’s alleged involvement links the incident to a broader pattern of cyber heists associated with North Korean hacking operations.

What to review next

Listen again to difficult sections, then open the transcript to check what you heard. Repeat a useful phrase aloud and try the recording once more without the text.

A focused practice result shows how you did on these tasks. Use several activities across skills to decide what to study next; one practice score does not certify an overall CEFR level.

Before you practise: a worked example

Listen for the final information, especially when a speaker corrects or changes an earlier statement.

Example transcript: “Let’s meet at five — actually, half past five would be better.” What is the final suggested time?

The final suggested time is 5:30. Actually signals a correction; the first time is replaced by the later suggestion.

This teaching example is separate from the scored questions. After your test, compare any mistakes with the explanation and revisit the topic before trying again.