Back News.Bloomberglaw

US Details $2.7 Billion Freeze After North Korea's Binance Hack

News.Bloomberglaw • November 12, 2026

The Justice Department says it’s joined with the two biggest stablecoin issuers in efforts to secure almost half the money stolen when hackers absconded with more than $6 billion from the Binance crypto exchange.

The department got court authorization to seize or restrain $1.2 billion of the $2.7 billion of funds frozen by Tether and Circle Internet Group Inc. in the immediate aftermath of the Oct. 29 break-in. Investigators are continuing to pursue the rest as the hackers, whom the FBI calls TraderTraitor, try to launder the cryptocurrency through bridges, mixers and exchanges.

“The National Security Division will use every ...

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

The full story

This article is one source in a clustered incident — the cluster page carries the summary, timeline and every other outlet covering it.

North Korean TraderTraitor Group Hacks Binance for $6.3 Billion On October 29, 2026, Binance, the largest cryptocurrency exchange, suffered a massive hack resulting in the theft of approximately $6.3 billion in crypto assets. The FBI attributed the attack to the North Korean hacking group TraderTraitor, which reportedly gained access to Binance's internal systems eight weeks prior to the theft. The attackers used social engineering tactics, including fake job offers, to compromise employee devices and harvest credentials. The breach allowed them to manipulate wallet-signing services and execute unauthorized transactions across multiple blockchains. As of November 5, about $2.8 billion of the stolen funds had been frozen, but significant amounts remain in circulation. The incident has raised alarms about the security of cryptocurrency exchanges and the potential for further state-sponsored cyber operations. 75 sources 78

Extracted Entities

US Details $2.7 Billion Freeze After North Korea's Binance Hack

The full story

Extracted Entities

Attack Types (1)

Companies (2)

Countries (1)

Malware (1)