FBI blames North Korea for the $6.3 billion Binance hack, the biggest crypto heist on record

Summary

Binance, the world's largest cryptocurrency exchange, said $6.3 billion worth of funds were affected by the industry's biggest-ever hack, with $3 billion in crypto frozen, Bloomberg reported on Friday 30 October, The Verge later writing that the heist hit Binance on October 29th. U.S.-based blockchain intelligence firm TRM said a North Korean hacking unit was likely behind the hack, The Philadelphia Inquirer, CBS News and the LA Times reported, the Inquirer writing that TRM attributed the attack to TraderTraitor, which it described as North Korea's elite hacking unit, Wired that the hack was pulled off in just 20 minutes, with billions of crypto likely gone for good, and The NY Times that Binance said it will cover the losses. President Donald Trump said the US was looking into whether North Korean hackers were behind the heist, Bloomberg reported, Binance said it plans to resume withdrawals this weekend, according to Forbes, and Binance co-founder Changpeng 'CZ' Zhao asked Elon Musk to stop trolling about the hack on X, Forbes and Bloomberg reported. On 31 October Binance said it had replenished 90% of the stolen crypto from the company's coffers, Business Insider reported, and the FBI said North Korea was responsible for stealing more than $6 billion in the attack, Bloomberg reported, The Verge writing on 1 November that the FBI labeled the activity 'TraderTraitor'.

Latest: The FBI says the billions of dollars stolen from Binance within minutes in the biggest crypto heist in history was orchestrated by North Korean hackers, The Philadelphia Inquirer reported, The Verge writing that the FBI labeled the activity 'TraderTraitor'.

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