MASSIVE CRYPTO HEIST: FBI Blames North Korean Hackers for Record $6.3 Billion Theft From Binance
The FBI has identified North Korean hackers as the perpetrators of a massive cryptocurrency theft targeting Binance, with more than $6 billion stolen from the world’s largest digital currency exchange in what authorities describe as the biggest cryptocurrency heist ever recorded.
In a public warning issued following Thursday’s attack, federal investigators attributed the breach to TraderTraitor, a North Korean hacking operation previously linked to major cryptocurrency thefts, including the $1.5 billion attack on Bybit in February 2025.
The October 29 breach reportedly resulted in approximately $6.3 billion being removed from Binance-controlled digital wallets, raising fresh concerns about the security of cryptocurrency exchanges and the ability of foreign governments to exploit weaknesses in the digital financial system.
According to blockchain intelligence firm TRM Labs, the attackers transferred an estimated $6.36 billion across 10 different blockchain networks. Most of the stolen cryptocurrency was moved within approximately 20 minutes, highlighting the speed and coordination of the operation.
Federal investigators said the hackers have already begun converting stolen assets into Ethereum, a cryptocurrency that can be transferred through decentralized financial platforms and other services designed to operate without traditional financial intermediaries.
Authorities expect the stolen funds to pass through additional exchanges, digital wallets and cryptocurrency services as the perpetrators attempt to obscure their origins and prevent investigators from recovering the money.
The FBI is coordinating its investigation with the U.S. Secret Service and the Internal Revenue Service’s Criminal Investigation division, with the agencies working to identify the movement of the stolen assets and interrupt attempts to launder them.
In their warning, federal officials called on cryptocurrency exchanges, blockchain monitoring companies and other digital asset businesses to identify and block transactions connected to wallets controlled by the hackers.
Investigators also released an extensive collection of cryptocurrency addresses believed to have received stolen funds or otherwise been associated with the North Korean operation.
Binance announced Friday that approximately $3 billion worth of the stolen cryptocurrency had already been frozen through cooperation with law enforcement agencies, blockchain networks and private-sector partners.
The exchange said it would use its own financial reserves and its Secure Asset Fund for Users to compensate for the losses rather than pass the financial burden on to customers.
“Binance will absorb the financial impact of these stolen funds, not our users,” the company said in an Oct. 30 security update.
Binance reported that it had allocated more than $6.34 billion from corporate resources to replace the missing cryptocurrency, although some of the affected assets had not yet been fully replenished.
The company temporarily halted withdrawals while conducting security checks and investigating how the attackers penetrated its systems. Early findings suggested that a compromised employee laptop may have provided an initial entry point, although investigators subsequently identified additional areas of concern.
Binance said it had not discovered evidence that the private keys used to authorize transactions from its cryptocurrency wallets had been exposed.
The scale of the theft far exceeds the February 2025 breach of Bybit, when North Korean-linked hackers stole approximately $1.5 billion in digital assets. That attack was also attributed to TraderTraitor, which investigators say specializes in sophisticated operations against cryptocurrency businesses.
Independent blockchain analysis firms have reported slightly different estimates of the latest losses. Elliptic placed the total at approximately $6.43 billion and identified about $2.84 billion in frozen assets, while TRM Labs estimated the theft at $6.36 billion.
North Korea has repeatedly been accused of using cryptocurrency theft to generate revenue despite international sanctions, with stolen digital assets providing funds that can be moved outside conventional banking systems.
The FBI urged anyone possessing information about the Binance attack or associated North Korean money-laundering activities to contact a local FBI office or submit a report through the bureau’s Internet Crime Complaint Center at ic3.gov.
{Matzav.com}
