- FBI blames North Korea for over $6 billion cryptocurrency theft from Binance in 2026
- Hacking group TraderTraitor linked to North Korea carried out the largest crypto heist
- Binance pledged to cover losses and has used own funds to buy back 90% of stolen tokens
The US Federal Bureau of Investigation has blamed North Korea for the theft of more than $6 billion in virtual assets from Binance, in what is believed to be the largest cryptocurrency heist on record.
The agency's statement on Saturday confirmed what private investigators and blockchain analysts had already suspected: that a North Korea-linked hacking group known as TraderTraitor carried out the attack. The same group was held responsible for the $1.5 billion theft from crypto platform Bybit in February 2025.
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In its advisory, the FBI said it was releasing information that the Democratic People's Republic of Korea “was responsible for the theft of more than $6 billion USD in virtual assets” from the exchange, which took place on or around October 29, 2026.
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The bureau said it had seen “TraderTraitor actors” converting the stolen funds into Ethereum. It expects the assets to be laundered further through decentralised finance platforms and instant swap services. The FBI also called on private sector firms “to block transactions with or derived from addresses” linked to the group's laundering activity.
Binance Pledges To Absorb Losses
Binance, the world's largest crypto exchange by daily trading volume, sought to calm users as the FBI's findings emerged. The exchange said it had earmarked more than $6.34 billion of its own funds to make good the losses from the breach.
“Binance will fully cover the financial impact of the funds stolen in this incident,” the company said in a post on X, adding that its commitment remained unchanged.
According to the exchange, company money has already been used to buy back tokens covering 90% of the stolen amount. The remaining 10% consists of tokens that are “less liquid,” Binance said, which means sourcing them in the required quantities could take longer.
The exchange halted user withdrawals after the attack, but said in its latest update that it was on track to resume them on Sunday. On Friday, Binance had described the incident as a “complex attack” involving several “points of breach.”
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Crypto Markets Take A Hit
News of the breach triggered a sharp sell-off across major cryptocurrencies on Friday. Bitcoin fell nearly 5%, Ethereum slid close to 6%, while BNB, the exchange's native token, dropped almost 10%.
The attack also comes amid growing concern among observers that rapidly advancing artificial intelligence models could weaken cryptography and IT security systems.
The magnitude of the theft has drawn fresh attention to North Korea's ability to raise money through illicit channels. The country remains under sweeping international sanctions over its nuclear weapons and missile programmes.
TraderTraitor is believed to operate as part of the Lazarus Group, a hacking outfit that first drew global attention in 2014, when it was accused of breaching Sony Pictures in retaliation for “The Interview,” a comedy that ridiculed North Korean leader Kim Jong Un.
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