FBI Links North Korea to Major Binance Crypto Theft
The FBI has identified North Korea as the perpetrator behind a theft of over $6 billion in virtual assets from Binance, marking it as one of the largest cryptocurrency heists to date.
The FBI announced that North Korea was responsible for the theft of more than $6 billion in virtual assets from the cryptocurrency exchange Binance, which occurred on or around October 29, 2026. This incident is considered the largest cryptocurrency heist in history, with stolen assets including bitcoin, ethereum, and stablecoins such as tether and USD Coin.
Following the cyberattack, Binance temporarily suspended withdrawals, but resumed the process over the weekend, initially covering 15 cryptocurrencies including bitcoin and ether. The FBI attributed the theft to an entity known as TraderTraitor, which was also linked to a previous $1.5 billion hack of Bybit last year. The agency noted that TraderTraitor actors were converting the stolen assets primarily into ethereum and warned that these assets could be further laundered through decentralized finance services.
In response to the theft, Binance stated it would utilize company funds exceeding $6.34 billion to recover approximately 90% of the stolen assets, while the remaining 10% consisted of less liquid tokens. The company reaffirmed its commitment to fully cover the financial impact of the incident. This heist has raised concerns about the potential vulnerabilities in cryptography and IT security protocols due to advancements in artificial intelligence.