FBI accuses North Korean group of $6 billion Binance hack as withdrawals resume
The FBI has alleged that a North Korea‑affiliated hacking unit called TraderTraitor stole more than $6 billion in cryptocurrency from Binance, prompting the exchange to restart withdrawals of multiple assets on Tuesday morning. The alleged theft, described by experts as possibly the largest crypto‑exchange heist ever, represents roughly a quarter of North Korea’s estimated annual GDP. North Korean officials have denied the accusation, calling it absurd rhetoric and a political provocation, while cryptocurrency prices fell sharply after the announcement.
Key facts
- TraderTraitor is also linked to a $1.5 billion theft from Bybit in February 2025.
- TRM Labs reported most of the stolen funds were moved out within 20 minutes.
- A U.S. blockchain analytics firm estimates North Korean groups stole about 60 percent of global crypto thefts last year.
- South Korean police linked a 2019 Upbit theft of 58 billion won to a North Korean hacking group.
- President Lee Jae‑myung called for stronger digital infrastructure protections in South Korea.
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Why it matters
The hack could fund North Korea’s weapons programs and destabilise crypto markets.
What changed
First published from South China Morning Post, Yonhap, CNA, Hindustan Times and The Independent