Straitstimes FBI Attributes $6 Billion Binance Hack to North Korea's TraderTraitor Group
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- •The FBI links the Binance hack to North Korean hackers known as TraderTraitor.
- •Over $6 billion in cryptocurrencies was stolen, marking the largest crypto hack ever.
- •Binance has committed to covering 90% of the losses and restoring withdrawals.
The FBI has attributed the theft of over $6 billion in cryptocurrencies from Binance to North Korean hackers, specifically a group known as TraderTraitor. This incident, occurring on October 29, 2026, marks the largest crypto hack in history. The FBI reported that stolen assets are being converted primarily into Ethereum and laundered through decentralized finance (DeFi) services. Binance has stated it will cover 90% of the losses and restore withdrawals by November 1. President Donald Trump expressed uncertainty about North Korea's involvement, suggesting that investigations are ongoing. The FBI has urged crypto exchanges to block transactions linked to the stolen funds to prevent further laundering. This attack follows a pattern of previous high-profile hacks attributed to North Korean actors, including a $1.5 billion hack on Bybit in 2025.
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