The United States Federal Bureau of Investigation (FBI) has formally attributed the theft of more than $6 billion in cryptocurrency from Binance, the world’s largest cryptocurrency exchange, to North Korean state-sponsored cyber actors.
In a cybersecurity advisory published on October 31, the FBI said the attack occurred on or about October 29, 2026, and was carried out by a group it identifies as TraderTraitor.
The agency said its investigations, conducted alongside the United States Secret Service (USSS) and the Internal Revenue Service Criminal Investigation Division (IRS-CI), showed that the attackers had been converting the stolen digital assets primarily into Ethereum (ETH).
According to the FBI, the hackers are expected to continue moving the funds through decentralised finance (DeFi) platforms and instant cryptocurrency swap services as part of efforts to launder the proceeds.
The FBI has consequently urged cryptocurrency exchanges, THORNode operators, remote procedure call (RPC) node operators, instant exchange platforms, DeFi services and blockchain analytics companies to block transactions connected to wallet addresses associated with the stolen assets.
It specifically called on service providers to block transactions originating from, or derived from, addresses being used by the TraderTraitor actors to move the funds.
As part of the advisory, the FBI published hundreds of Ethereum wallet addresses it said were holding or had previously held assets from the theft. The agency described the addresses as being operated by, or closely connected to, North Korean TraderTraitor actors.
The bureau also appealed to individuals and organisations with relevant information to contact their nearest FBI field office or submit reports through its Internet Crime Complaint Centre.
Binance founder, Changpeng Zhao, acknowledged the assistance provided by American law enforcement agencies in responding to the incident.
Zhao said the FBI, USSS, IRS and other agencies played important roles in tracking and freezing assets connected to the theft.
He expressed appreciation for their intervention, noting that their efforts helped limit the potential impact of the incident on the wider cryptocurrency market.
“A tweet can’t fully express our gratitude. Many crypto bros may not realise, a lot of the ‘why bitcoin didn’t drop more?’ credit goes to them,” Zhao said.
Binance had earlier estimated the value of the stolen cryptocurrency at approximately $6.3 billion and pledged to cover the losses, assuring customers that affected funds would be replaced.
In a further development on Sunday, November 1, Reuters reported that Binance planned to resume cryptocurrency withdrawals in phases after recovering or covering approximately 95 per cent of the affected assets. The exchange said the remaining portion involved less-liquid cryptocurrencies that could take longer to source.
The incident is being described as one of the largest cryptocurrency thefts ever recorded, highlighting the growing security risks facing digital asset exchanges and the international challenge of tracking and recovering funds stolen through sophisticated cyberattacks.
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