FBI Blames North Korea for Binance Heist

The Federal Bureau of Investigation attributed the massive theft from Binance on Thursday to North Korean hackers. The agency identified the group as TraderTraitor, the same entity behind the $1.5 billion Bybit hack in 2025.

FBI officials said the attack involved malicious cyber activity that drained $6.3 billion in bitcoin and other digital currency within minutes. The bureau requested that crypto exchanges and blockchain analytics firms block transactions linked to specific addresses to prevent money laundering.

Investigators found that TraderTraitor converted the stolen assets primarily into ethereum. The FBI expects the group to use decentralized finance platforms and instant swap services to further obscure the funds.

Ari Redbord, chief policy officer at TRM Labs, described the incident as a bank robbery conducted at the speed of the Internet. He noted that the hackers will likely break the assets into smaller pieces and move them through minor exchanges over several months to avoid detection.

Binance stated on Saturday that it has reserved enough digital currency to cover 90 percent of the missing assets. The company promised full reimbursement to affected customers.

The theft marks the largest cryptocurrency heist in history. Redbord said investigators can track and trace the funds in real time to build cases and seize assets.