The Newshound

Binance customers pull $4.6bn from the crypto exchange as it reopens after hackers the FBI links to North Korea stole $6.3bn

The theft, traced to a compromised engineer's laptop, has been formally attributed by the FBI to TraderTraitor, believed to be part of North Korea's Lazarus Group.
The theft, traced to a compromised engineer's laptop, has been formally attributed by the FBI to TraderTraitor, believed to be part of North Korea's Lazarus Group.

North Korea's TraderTraitor hacker group — the same outfit behind a $1.5bn Bybit theft in February 2025 — struck Binance on 29 October, compromising a laptop to drain $6.3bn in what the FBI and analysts are calling the largest financial robbery in history. Binance froze all withdrawals within hours, vowed to cover every penny of losses from company funds, and managed to freeze roughly $2.8bn of the stolen assets with help from other exchanges. Withdrawals resumed in phases on Sunday, with Bitcoin, Ethereum and two dozen other major tokens prioritised first.

Binance has already covered 95% of losses by buying replacement tokens from its own reserves, with the remaining 5% taking longer because the assets involved are less liquid.

Stolen funds are still being actively laundered, with TraderTraitor actors converting assets into Ethereum and spreading them across thousands of addresses, analysts at Chainalysis warned.

Binance founder Changpeng Zhao warned scammers are 'on overdrive', sharing fake compensation offers targeting panicked customers — urging users to check only official Binance channels.

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