Binance's $6.3 billion crypto heist: What to know about TraderTraitor, North Korea's hacking group accused of the hack
The FBI identified the group as responsible for the Binance hack, saying law enforcement agencies had observed its members converting stolen assets into ether, the cryptocurrency associated with the Ethereum blockchain.
The Federal Bureau of Investigation (FBI) has accused a North Korean hacking group, known as TraderTraitor, of carrying out a massive $6.3 billion cryptocurrency heist from exchange Binance. The attack, believed to be one of the largest financial heists in history, occurred on or around October 29, 2026, and was completed in approximately 20 minutes.
Binance's co-CEO described it as a complex attack involving a compromised laptop and malicious software designed to erase evidence. The FBI stated that TraderTraitor has been converting stolen assets into ether and warned that the group could further launder them through decentralized finance platforms and instant swap services.
Binance has set aside about $6.34 billion to cover the stolen assets and has resumed withdrawals in phases.
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