FBI Links North Korea to $6.3B Binance Crypto Heist - Bitcoin Foundation
North Korean-linked cybercriminals stole $6.3 billion in digital currency from Binance this week, the FBI said, identifying the suspected group as TraderTraitor.
The FBI confirmed that North Korean-linked cybercriminals carried out the largest digital currency theft in history, stealing $6.3 billion from cryptocurrency exchange Binance. The bureau identified the suspected group as TraderTraitor, which North Korea denied being associated with.
Binance called it the largest digital-coin theft ever and revealed it had frozen approximately $3 billion of the stolen assets. The exchange pledged to cover the full loss with company funds, having already restored about 95% of the impacted amount by early Sunday.
Customer Response
After Binance resumed transactions on Sunday for Bitcoin, Ethereum and other cryptocurrencies, customers withdrew more than $4.6 billion while depositing just over $1 billion. This resulted in a net outflow of $3.64 billion, representing 2.1% of Binance's $171 billion in total assets.
The company's priority was to secure the environment before letting users withdraw funds and resuming operations.
Investigation Details
The FBI attributed the attack to cybercriminals linked to North Korea and urged private-sector companies to block transactions involving funds tied to TraderTraitor's laundering activity. The bureau revealed the group was converting most of the stolen assets into Ethereum to hide their trail.
Investigators also linked TraderTraitor to the February 2025 attack on crypto exchange Bybit, which resulted in a $1.5 billion loss. North Korea rejected the FBI's accusation, calling the US claims "absurd rhetoric."
Related
