In brief
The FBI charges a North Korean group with stealing $6.3 billion in virtual assets from Binance and laundering the money into Ethereum. Binance has used its safe‑fund reserves to cover 90 % of the loss and remains pressuring prices. The agency has asked crypto platforms to block suspicious transactions.
The FBI says a North Korean group stole a record‑size $6.3 billion in cryptocurrency from Binance and is laundering the money into Ethereum. It claims the thieves belong to a unit called TraderTraitor, the same group behind a $1.5 billion theft from Bybit last year.
In a statement, the agency urged virtual asset service providers to block any transactions linked to the robbery, and supplied the specific digital addresses to watch for.
After the theft, Binance announced it had used 90 % of the lost value, drawing from its Secure Asset Fund for Users, its Futures Insurance Fund and corporate treasury. The $6.3 billion hit left a 10 % gap that the exchange said it would continue to cover until 100 % is restored.
"We will continue to buy the remaining relevant token assets… until the covered amount reaches 100 percent for all tokens. Binance will absorb the financial impact of these stolen funds, not our users," the company said on X.
Crypto prices fell on Friday as investors reacted to the breach, even as Binance worked to reassure customers that their funds were protected by the company’s reserves.
