FBI · South Korea · North Korea · Ethereum · Decrypt
The FBI has confirmed that North Korea was behind last week's theft of more than $6 billion from Binance
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
✓ KHAO Verified
In an alert published on Saturday, the FBI said the attack was carried out by North Korean hackers it refers to as "TraderTraitor," confirming the attribution blockchain analytics firms TRM Labs and Chainalysis made on Friday.
Key facts
- The 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
- In the first nine and a half hours, it processed $4.649 billion in withdrawals and $1.01 billion in deposits, a net outflow of about $3.64 billion, the exchange said
- Rival exchanges OKX and Bybit recorded net inflows of about $450 million and $134 million, respectively, during Binance's reopening
- That represents 2.1% of the $171 billion in assets Binance reported in its most recent proof of reserves, from October 28, according to the exchange
Summary
The FBI said North Korea's TraderTraitor was responsible for the theft of more than $6 billion from Binance, and published hundreds of addresses linked to the hack. Binance began restoring withdrawals on Sunday, processing $4.65 billion in withdrawals and $1.01 billion in deposits in the first nine and a half hours. The exchange said the net outflow represented 2.1% of its $171 billion in assets, and it has since reopened fiat withdrawals, including U.S. dollars. The FBI has confirmed that North Korea was behind last week's theft of more than $6 billion from Binance, as the exchange began reopening withdrawals and reported billions of dollars leaving the platform.