FBI says North Korea behind $6 billion Binance crypto theft
The FBI said the theft was tied to "malicious cyber activity" by an entity known as TraderTraitor, the same actors behind a $1.5 billion Bybit hack last year.
On October 29, 2026, the United States Federal Bureau of Investigation (FBI) announced that North Korea orchestrated a massive heist, stealing over $6 billion worth of virtual assets from the cryptocurrency exchange Binance. The Democratic People's Republic of Korea (North Korea) was held responsible for the theft, which occurred within minutes and is considered the largest cryptocurrency robbery in history.
The stolen assets encompassed Bitcoin, Ethereum, and stablecoins like Tether and USD Coin, all of which are pegged to traditional currencies.
The cyberattack disrupted the prices of major cryptocurrencies, causing a decline on Friday. The FBI linked the theft to malicious cyber activity by a group known as TraderTraitor, the same entities responsible for a $1.5 billion hack on the Binance exchange the previous year. The agency observed TraderTraitor converting the stolen assets primarily into Ethereum, which they intended to further launder using decentralized finance (DeFi) and instant swap services before depositing them into other accounts.
The FBI urged cryptocurrency exchanges, blockchain analytics companies, and other relevant entities to block transactions associated with specific addresses to prevent the laundered funds from covering their origins. Binance, the world's largest cryptocurrency exchange by daily trading volumes, announced that it would utilize funds worth over $6.34 billion to replenish approximately 90% of the stolen assets.
The remaining 10% consisted of less liquid tokens, which might take longer to resell. Binance reaffirmed its commitment to covering the financial impact of the stolen funds, stating that it will bear the entire financial burden of the incident. The heist occurred amidst growing concerns that the increasing capabilities of artificial intelligence models might undermine cryptography and IT security protocols.
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