Binance Suffers $6.3 Billion Hack Linked to North Korean Group

• •Binance was hacked for $6.3 billion, the largest theft in cryptocurrency history.
• •The FBI linked the attack to North Korea's TraderTraitor hacking group.
• •Binance has begun phased withdrawals, covering 90% of stolen assets with its own funds.

On October 29, 2026, Binance, the world's largest cryptocurrency exchange, was hacked, resulting in the theft of approximately $6.3 billion in digital assets. The FBI attributed the attack to the North Korean hacking group known as TraderTraitor. The breach involved unauthorized withdrawals from Binance's hot wallets, which hold funds for immediate transactions. In response, Binance temporarily suspended all withdrawals and initiated a recovery process, utilizing over $6.34 billion from its corporate reserves to cover 90% of the stolen assets. As of November 1, 2026, Binance has begun resuming withdrawals in phases, prioritizing assets based on user demand. Approximately $3 billion of the stolen assets have been frozen through collaboration with law enforcement and other exchanges. The remaining 10% of the stolen funds consists of less liquid tokens that may take longer to source. The incident has raised significant concerns about the security of cryptocurrency exchanges and the potential for further attacks.