FBI blames North Korea for record $6.3bn crypto heist from Binance
The FBI has attributed a record $6.3 billion cryptocurrency heist from Binance to North Korean actors known as TraderTraitor. Binance has committed to covering 90 percent of the losses using its internal reserve funds to protect its users.
Why it matters
This incident highlights the ongoing security risks in the crypto sector and the role of state-sponsored actors in cybercrime.
Crypto firm Binance says it has covered 90 percent of losses from the multibillion-dollar hack.
x whatsapp-stroke copylink google Add Al Jazeera on Google info [Dado Ruvic/Illustration/Reuters] By Al Jazeera Staff and Reuters Published On 1 Nov 2026 1 Nov 2026 The FBI has linked North Korea to the theft of a record $6.3bn in virtual assets from cryptocurrency exchange Binance.
Malicious actors from North Korea were observed laundering the stolen assets by converting them primarily into the cryptocurrency Ethereum, the FBI said in a statement on Saturday.
The US agency blamed the operation specifically on a group called TraderTraitor, the same group blamed for a $1.5bn theft from the Bybit platform in February last year.
According to the statement, the assets are expected to be “further laundered” in stages.
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