FBI Accuses North Korea of Orchestrating Over $6 Billion Theft from Binance
- The FBI published a cyber alert on October 31, 2026, linking North Korea to a massive theft from Binance around October 29
- The agency identified the operation as TraderTraitor and said hackers were converting stolen funds primarily into Ethereum
- Binance has claimed it had reportedly replaced approximately $6 billion of the stolen assets using its own company funds
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The United States Federal Bureau of Investigation has formally accused North Korea of carrying out one of the largest cryptocurrency heists in history, targeting Binance, the world's biggest digital asset exchange.
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In a cyber alert released on Saturday, October 31, 2026, the FBI stated that North Korean operatives stole more than $6 billion worth of virtual assets from Binance in an attack that took place around October 29.
The agency linked the operation to a known North Korean hacking campaign it tracks under the name TraderTraitor, which has a documented history of targeting cryptocurrency platforms.
How the TraderTraitor hack unfolded
The FBI said its investigators, working with the US Secret Service and the Criminal Investigation Division of the Internal Revenue Service, monitored the hackers as they moved stolen funds, converting a significant portion into Ethereum.
Authorities believe the group plans to route the money through decentralised finance platforms and rapid cryptocurrency swap services in a bid to obscure its origins.
As part of its response, the FBI released a list of cryptocurrency wallet addresses believed to be controlled by or linked to the North Korean operatives.
The agency called on cryptocurrency exchanges, blockchain companies, decentralised finance providers and other participants in the virtual asset industry to block transactions connected to those addresses.
Anyone with relevant information was urged to reach out to a local FBI field office or the Internet Crime Complaint Centre.
Binance moves to cover the losses
On the same day the FBI published its alert, Reuters reported that Binance had taken steps to manage the financial fallout.
The exchange said it had used company funds to replace roughly $6 billion of the estimated $6.3 billion taken in the attack.
Binance also said its teams had located around $3 billion in affected assets, with active efforts underway to freeze them before they could be moved further.
The FBI was clear in its announcement that its investigation centres on the alleged conduct of North Korean hackers, and the agency did not accuse Binance of wrongdoing towards its customers.
FBI uncovers North Korean scheme targeting US
Earlier, YEN.com.gh reported on the FBI’s investigation into an alleged North Korean-linked scheme that placed fraudulent IT workers at US companies. Two US citizens were arrested, and authorities seized 187 electronic devices.
The operation allegedly used stolen identities and fake profiles to secure jobs and direct earnings to North Korea, potentially exposing companies to security risks.
The case adds to warnings that businesses must strengthen checks on remote workers as authorities investigate the network’s full scope.
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Source: YEN.com.gh
