In brief
U.S. authorities say a North Korean state‑backed group targeted Binance on October 29, 2026, siphoning over $6 billion in virtual assets. The FBI alleges the thieves used Ethereum and DeFi tools to launder the funds. Binance has reimbursed 90 % of the stolen value and will use half of its Secure Asset Fund for Users to cover losses.
The FBI says North Korea stole more than $6.3 billion from the Binance cryptocurrency exchange on October 29, 2026. The U.S. agency claims the attack was carried out by the state‑backed hacking group TraderTraitor and that the stolen crypto will be converted mainly into Ethereum before being laundered through DeFi services.
According to the FBI, the hackers plan to use instant‑swap platforms to move the assets into other currencies, making them harder to trace. The agency said it has no evidence in the statement, but it identified the attack as a “massive” theft of virtual assets.
Binance has responded by reimbursing 90 % of the stolen amount. It also announced that it will allocate 50 % of the funds from its Secure Asset Fund for Users (SAFU) to cover the remaining losses caused by the robbery.
These events highlight the growing risk of state‑backed cyber‑attacks in the crypto space. With more than $6 billion in assets allegedly taken, the case could affect traders, investors, and the broader market’s confidence in digital asset security.
The FBI’s accusation brings additional scrutiny to the country’s alleged hacking capabilities, while Binance’s compensation plan underscores the financial cost of such attacks for both the exchange and its users.
