FBI Blames North Korea for $6 Billion Binance Crypto Theft
November 01, 2026
The FBI blames North Korea for stealing $6 billion from Binance and urges crypto firms to block transactions linked to the stolen funds.
The FBI has named North Korea as the party behind the theft of more than $6 billion in virtual assets from the crypto exchange Binance, on or about October 29, 2026. The bureau published its findings in a public alert. The FBI specifically blames the North Korea-linked APT “TraderTraitor,” also tracked as Lazarus Group and APT38.
Binance hasn’t named a culprit, but the blockchain analysis firm TRM has. It was the first to attribute the attack to TraderTraitor, and Chainalysis also said it’s highly confident in that finding.
“The Federal Bureau of Investigation (FBI) is releasing information advising the Democratic People’s Republic of Korea (North Korea) was responsible for the theft of more than $6 billion USD in virtual assets from cryptocurrency exchange Binance, on or about October 29, 2026. The FBI refers to this specific North Korean malicious cyber activity as “TraderTraitor.”” reads the FBI’s statement.
“The FBI, together with partners at the USSS and IRS-CI, has observed TraderTraitor actors converting stolen assets primarily into Ethereum (ETH). 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.”
Attackers used access from an engineer’s laptop to reach a service container and send unauthorized withdrawal requests. Binance says it has found no evidence that attackers stole any wallet private keys.
The FBI, along with the U.S. Secret Service (USSS) and IRS Criminal Investigation (IRS-CI), has spotted TraderTraitor actors turning the stolen assets mostly into Ethereum (ETH). The agencies expect the next step to be more laundering, by swapping the funds through DeFi and instant swap services as the actors prepare them for later stages. Instant swap services are aptly named.
The alert is aimed at private companies as well as law enforcement agencies. The FBI, USSS and IRS-CI are asking several types of businesses to help stop the money laundering. These include THORNode operators, who support the THORChain network, RPC node operators, who provide apps with access to blockchains, instant crypto exchanges, DeFi platforms, blockchain analytics companies and other crypto service providers.
The request is clear: these companies should block any transactions involving the wallet addresses used by TraderTraitor, including funds that can be traced back to them. According to the FBI, these addresses have received stolen funds and are controlled by North Korean attackers or are closely linked to them. The full list of addresses is included in the alert.
If you run any of these services, the first job is to check your blocklists against that list. The second is to look at transaction flows that touch those addresses indirectly, since the FBI says to block anything “derived from” them, not just direct transfers. Blockchain analytics firms are named for a reason, because tracing derived funds is their work.
The FBI says it’s committed to protecting the virtual asset community by identifying, mitigating and disrupting North Korea’s illicit cybercrime and virtual asset theft.
“The FBI maintains its commitment to protecting the virtual asset community by identifying, mitigating, and disrupting North Korea’s illicit cybercrime and virtual asset theft activities.” concludes the report. “If you have any information to provide, please contact your local FBI field office or FBI’s Internet Crime Complaint Center at ic3.gov.”
TRM says the attacker moved about $6.36 billion out of Binance wallets on ten blockchains on October 29, most of it in roughly 20 minutes starting at 20:05 UTC. That makes it the largest crypto theft on record, about four times the $1.5 billion Bybit hack of February 2025.
“On October 29, 2026, an attacker moved approximately USD 6.36 billion out of Binance wallets on ten blockchains, most of it in about 20 minutes starting at 20:05 UTC. That makes this the largest crypto theft on record, about four times the USD 1.5 billion Bybit hack of February 2025. Binance has confirmed a security incident and suspended withdrawals on several networks.” TRM said. “TRM attributes the attack to TraderTraitor, North Korea’s elite hacking unit, based on robust on and off-chain intelligence. We make this judgment with high confidence. TRM is tracking the funds and alerting partners through the Beacon Network.”
Freezing the money only went partway. Tether, Circle, Ripple and World Liberty Financial froze about $2.67 billion in stablecoins, and Arbitrum’s Security Council froze 8,426 ETH and 74.6 million ARB, for roughly $2.7 billion in all. But the attacker raced the freezes by selling USDT to market makers and borrowing ETH against USDT on Aave. It now holds more than 420,000 ETH and 18,270 BTC, about $2.4 billion beyond any issuer’s reach.
The early freeze numbers were messy too, Tether and Circle froze approximately $1.79 billion in stablecoins associated with the suspicious transfers in the initial reports. Those amounts describe different moments, and you shouldn’t add them without checking whether they cover distinct assets. A freeze works on tokens that have an issuer to call, and Ether and Bitcoin don’t.
Below is the link to my interview regarding the Binance case for Italian state television.
https://www.youtube.com/watch?v=DtvhBA9TdPo
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(SecurityAffairs – hacking, Binance)
