FBI says North Korea behind $6 billion crypto theft from Binance

The FBI has accused North Korea of stealing over $6 billion in virtual assets from the cryptocurrency exchange Binance, claiming it to be the largest-ever crypto heist. Binance, the world's largest crypto exchange by daily trading volumes, reassured that it will cover the losses using company funds, replenishing 90 percent of what was stolen.

The theft, which occurred around October 29, 2026, was attributed to a North Korea-affiliated group called TraderTraitor, previously linked to a $1.5 billion theft from Binance competitor Bybit in February 2025. The FBI warns that TraderTraitor actors are converting stolen assets into Ethereum, with plans to launder them further using decentralized finance and instant swap services.

Binance has set aside over $6.34 billion in company funds to cover the losses, and has suspended user withdrawals while working to resolve the complex attack. The brazen scale of the heist has drawn attention to North Korea's potential to exploit illicit means to generate revenue despite facing extensive international sanctions over its nuclear and missile programs.