FBI Blames North Korea for $6.3 Billion Binance Heist, the Biggest Crypto Theft Ever

The FBI has formally blamed North Korea's state-sponsored hacking unit TraderTraitor for the record-breaking theft of about $6.3 billion in digital assets from Binance, the world's largest cryptocurrency exchange. The agency announced its attribution on Saturday, October 31, two days after the attack.

The bulk of the theft unfolded in roughly 20 minutes beginning late on Thursday, October 29, when hackers emptied Binance hot wallets across multiple blockchains. Blockchain analysis firms TRM Labs and Chainalysis had already pointed to North Korean involvement, noting similarities to previous large attacks blamed on Pyongyang.

The FBI said it has observed TraderTraitor actors converting the stolen assets primarily into Ethereum and expects further laundering through decentralized finance platforms and instant-swap services. The agency published a list of more than 600 Ethereum addresses, along with Bitcoin and Solana addresses, tied to the theft and urged crypto firms to block transactions involving them.

Binance, which has 335 million registered users globally, resumed withdrawals on Sunday after suspending them while it investigated the breach. The exchange said it had covered about 95% of the stolen assets using its Secure Assets Fund for Users, corporate treasury, and futures insurance fund, and that it will absorb the financial impact rather than passing losses to users.

Customers pulled a net $3.64 billion, or 2.1% of the exchange's assets, as service resumed, though Binance said withdrawals were stabilizing and deposit volumes remained substantial. The exchange said it had about $171 billion in total assets under management as of October 28. President Donald Trump said Saturday it remained unclear whether North Korea was involved, even as the FBI's attribution stood.