FBI Attributes Record $6.3 Billion Binance Hack to North Korea
The US Federal Bureau of Investigation (FBI) has publicly accused North Korea of orchestrating a massive cyberattack that resulted in the theft of $6.3 billion in digital assets from the Binance cryptocurrency exchange. In a statement released on Saturday, the agency identified the perpetrators as part of a state-sponsored campaign known as "TraderTraitor," which security officials link to the Lazarus Group.
The breach occurred on or about October 29, 2026, when attackers executed a complex operation targeting the platform's hot wallets. According to the FBI, investigators have tracked the hackers converting portions of the stolen virtual assets into Ethereum, with expectations that the funds will be further laundered through decentralized finance (DeFi) and instant swap services.
In response to the security breach, Binance temporarily suspended deposits and withdrawals to conduct forensic investigations and freeze targeted funds. Binance co-CEO Richard Teng stated that the exchange has successfully covered approximately 90% of the stolen amount using company reserves, while withdrawals are gradually resuming in phases. The remaining 10% involves less liquid tokens that may require additional time to recover, though leadership has reiterated its commitment to covering all impacted losses.
