FBI Accuses North Korea of Stealing Over $6.3 Billion From Binance
Hackers converted assets into Ethereum cryptocurrencyThe attack on Binance occurred on October 29, resulting in what analysts have deemed the largest
The FBI said that North Korea was responsible for stealing more than US$6 billion (S$7.67 billion) in cryptocurrencies in a brazen hacking attack on Binance.
“The FBI, together with partners at the USSS and IRS-CI, has observed TraderTraitor actors converting stolen assets primarily into Ethereum,” the FBI said in an Oct 31 statement, referring to the US Secret Service and the criminal division of the Internal Revenue Service.
“It is expected these assets will then be further laundered by converting them using DeFi and instant swap services as they prepare them for further laundering stages.”
Earlier, Binance said it has covered about 90% of the US$6.3 billion and plans to restore withdrawals by Nov 1, making progress on a pledge to fully reimburse customers.
In a social media post on Oct 31, the world’s biggest crypto exchange reiterated that it will absorb the full impact of the theft so that users would not suffer any losses.
The Binance hack is the largest in cryptocurrency’s history, as well as one of the largest cyber incidents more generally, according to experts. It sent shockwaves through the industry, which has been trying to gain more mainstream adoption.
North Korean hackers are well known for their past attacks against crypto exchanges. They have been accused by the FBI and cybersecurity experts of some of the biggest crypto heists in recent years, including the US$1.5 billion Bybit attack in 2025 and the 2022 theft of about US$620 million in cryptocurrency.
