FBI blames North Korea for $6.3 billion Binance cryptocurrency heist
Binance has used company funds to replace 90 per cent of the stolen assets following the record theft.
The FBI has attributed the theft of $6.3 billion in cryptocurrency from Binance to a North Korean state-backed hacking group called TraderTraitor. According to reports from Hindustan Times and The New Indian Express, the attack occurred on or about October 29, 2026, and is considered the largest crypto heist in history.
The FBI stated that the hackers have begun converting the stolen funds, primarily into Ethereum. The bureau warned that the group might use instant swap services and decentralised finance platforms to move the assets and make them harder to trace. The agency urged organisations to block transactions linked to the identified wallet addresses to prevent laundering.
Binance said on Saturday that it had already replaced 90 per cent of the stolen assets by using company money to purchase new tokens. Co-CEO Richard Teng stated on X that users would not suffer any financial consequences from the breach. The exchange has set aside approximately $6.34 billion to cover the losses, drawing from its corporate treasury, Futures Insurance Fund, and the $1 billion Secure Asset Fund for Users.
The exchange, which temporarily suspended withdrawals after the attack, said it was on track to resume the service on Sunday. Binance noted that the remaining 10 per cent of the stolen assets consist of less liquid cryptocurrencies that may take more time to replace.
The FBI linked TraderTraitor to a $1.5 billion hack of the exchange Bybit last year. While the FBI has identified the group, US President Donald Trump expressed doubt regarding North Korea's involvement in the incident.