Cybersecurity Policy Report, FBI Blames North Korea for $6.3B Binance Cyber Heist, (Nov 2, 2026)
The Federal Bureau of Investigation on Saturday blamed the North Korean government for the cyber theft of $6.3 billion in cryptocurrency from Binance Holdings, Ltd.
“The FBI refers to this specific North Korean malicious cyber activity as ‘TraderTraitor,’” the bureau said in a news release.
The FBI and its partners at the U.S. Secret Service and Internal Revenue Service have “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 [decentralized finance] and instant swap services as they prepare them for further laundering stages,” it said.
It provided a list of blockchain addresses associated with TraderTraitor and asked “virtual asset service providers to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets.”
“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,” it added.
The heist was the largest ever experienced in the crypto sector, but Binance and its partners managed to block the transfer of about $3 billion in assets (CPR, Oct. 30).
Binance reassured customers over the weekend that it had sufficient funds in an emergency account to cover their losses. “As we have said throughout this incident: user funds remain safe. Binance will absorb the financial impact of the stolen funds, not our users,” it said in a Saturday update.
It also said it was working to restore the ability of customers to withdraw assets from its platform and continued to investigate the incident.
“We recognize how difficult this period has been for our users and the broader Binance community. Thank you for your patience, understanding, and continued trust as our teams worked through this incident with the seriousness it required,” it said.
“We also thank our industry partners for acting quickly to help freeze assets and trace stolen funds,” it added. “We will continue working closely with them and with law enforcement to support recovery efforts and hold those responsible accountable.”
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