FBI Names North Korean Hacker Group TraderTraitor In 6 Billion Dollar Binance Heist

The incident, which reportedly took place on October 29, 2026, is being described as one of the biggest cryptocurrency thefts ever recorded. The FBI said a North Korea-linked hacking group known as TraderTraitor was responsible for the attack. Binance, the world's largest cryptocurrency exchange by daily trading volume, has assured users that it will bear the financial losses arising from the incident.

The company said it has already used its own funds to replenish 90 per cent of the stolen assets. The announcement of the cyberattack triggered a sharp fall in cryptocurrency prices on Friday, with major digital currencies recording significant losses. In a statement released on Saturday, the FBI said it had identified North Korea as responsible for the theft of more than 6 billion dollars in virtual assets from Binance.

According to the agency, the attack was carried out by members of TraderTraitor, a group previously linked to several major cryptocurrency thefts. The FBI said it had observed the hackers converting the stolen assets into Ethereum. It also warned that the group could attempt to move the funds further through decentralised financial platforms and instant cryptocurrency exchange services to conceal their origins.

The agency urged cryptocurrency companies and other private sector organisations to identify and block transactions connected to digital wallet addresses being used by the hackers. TraderTraitor has also been linked to the 1.5 billion dollars theft from cryptocurrency platform Bybit in February last year. The group is believed to be associated with the Lazarus Group, a hacking network that has faced allegations of carrying out several high-profile cyberattacks, including the 2014 attack on Sony Pictures.

Binance Pledges To Cover Losses, Trump Questions North Korea's Role Responding to the incident, Binance said it had allocated more than 6.34 billion dollar from its company funds to cover the financial impact of the attack. In an update posted on X, the exchange said it had already purchased tokens using company funds to replace around 90 per cent of the stolen assets. It added that the remaining 10 per cent could take longer to replace as those tokens were less readily available in the market.

Binance had temporarily suspended withdrawals following the cyberattack but said services were expected to resume on Sunday. Meanwhile, US President Donald Trump expressed uncertainty over North Korea's alleged involvement in the incident. Speaking to reporters at his residence in Florida on Saturday, Trump said the US was still gathering information and that it was not yet clear whether North Korea was responsible.

The massive cyberattack also affected cryptocurrency markets. Bitcoin fell nearly five per cent, while Ethereum declined close to six per cent. Binance's native token, BNB, dropped by nearly 10 per cent following news of the breach.

The incident has renewed concerns over the security of digital assets and the growing ability of cybercriminal groups to exploit weaknesses in financial technology systems.