FBI attributes Binance’s $6bn-plus theft to North Korea
The FBI says North Korea stole over $6 billion from Binance on Oct. 29 and is urging crypto services to block laundering routes as assets move into Ether.
The Top Crypto Editors 2 min read
Who does the FBI blame for the theft of more than $6 billion from Binance? North Korea, in an alert published Oct. 31 that names the activity “TraderTraitor.” The FBI says the theft happened on or about Oct. 29, and its public alert asks crypto services to help block the stolen assets’ movement.
What route are the stolen assets taking?
The FBI says it and partners at the U.S. Secret Service and IRS Criminal Investigation have observed TraderTraitor actors converting the assets primarily into Ether. The agencies expect further laundering through decentralized finance services and instant swaps. That describes the observed movement and anticipated next steps; the alert does not specify a total already laundered.
The FBI asks THORNode and RPC node operators, instant exchanges, DeFi services, blockchain analytics firms and other virtual asset providers to block transactions with or derived from listed addresses. Its alert includes addresses associated with the theft, which it says are operated by or closely connected to TraderTraitor actors. The request puts transaction screening and coordination across services at the center of the response.
What is known about the breach itself?
The FBI’s alert confirms the attribution and theft amount but does not explain how the attackers gained access. Binance’s incident details, reported by the Associated Press, remain under investigation: the exchange said an initial review suggested a compromised laptop, then found additional points of breach.
Binance said its own hot wallet was affected and that deposits were unaffected. The company said it would cover losses, while blockchain partners had frozen roughly $3 billion in affected assets, according to AP. Those figures describe Binance’s response and the reported freezes; the FBI alert itself does not give a recovered-funds total.
Has North Korea responded to the accusation?
Yes. Kim Yo Jong, sister of leader Kim Jong Un, denied North Korea’s involvement on Tuesday and called the FBI announcement “a trite provocation,” AP reported. The FBI’s alert remains an official U.S. attribution, while Pyongyang rejects it.
The next figure to watch is how much of the stolen crypto services can freeze as the FBI’s block request reaches more platforms.
References
- public alert — fbi.gov
- Associated Press — apnews.com