FBI Blames North Korea for Record $6 Billion Crypto Theft from Binance

The FBI attributed a massive cryptocurrency theft to North Korea on Saturday. The agency stated that the Democratic People's Republic of Korea stole more than $6 billion in virtual assets from the Binance exchange. The breach occurred on or about October 29, 2026, and lasted only minutes. Investigators consider this the largest crypto heist recorded to date.

The stolen assets included bitcoin, ethereum, and stablecoins such as tether and USD Coin. These stablecoins hold values pegged to traditional fiat currencies. News of the cyberattack drove down the prices of most major cryptocurrencies on Friday. The market reaction reflected immediate concern over the security of digital financial systems.

The FBI linked the incident to a group known as TraderTraitor. This entity is also responsible for a $1.5 billion hack of the Bybit exchange last year. The agency reported that TraderTraitor actors were converting the stolen assets primarily into ethereum. The FBI noted that these assets are expected to be further laundered using decentralized finance and instant swap services.

To stop the money from disappearing, the FBI asked crypto exchanges and blockchain analytics firms to block transactions linked to specific addresses. This action aims to prevent the origins of the stolen funds from being obscured. The agency described the activity as malicious cyber activity targeting the exchange's infrastructure.

Binance, the world's largest crypto exchange by daily trading volume, responded on Saturday. The company announced it was using over $6.34 billion in corporate funds to buy back tokens. This measure will replenish approximately 90% of the stolen assets. The remaining 10% consists of less liquid tokens that may take longer to replace.

The company affirmed its financial commitment to the event. "Our commitment remains the same: Binance will fully cover the financial impact of the funds stolen in this incident," the exchange posted on X. The heist occurs as fears grow that expanding artificial intelligence models could compromise existing cryptography and IT security protocols.