Binance's $6.3 billion crypto heist: What to know about TraderTraitor, North Korea's hacking group accused of the hack

What happened: The FBI blamed the North Korean hacking group TraderTraitor for the theft of more than $6.3 billion in virtual assets from Binance, an attack that took place on or around October 29, 2026. Key numbers: More than $6.3 billion stolen; bulk of theft in about 20 minutes; Why it matters: Binance said it will absorb the loss rather than pass it to customers, using its SAFU, Futures Insurance Fund and corporate treasury to buy replacement tokens. The FBI warned the stolen assets are being converted into ether and could be laundered through DeFi platforms and instant swap services. Coverage: 15+ outlets in 24h

The FBI blamed the North Korean hacking group TraderTraitor for the theft of more than $6.3 billion in virtual assets from Binance, an attack that took place on or around October 29, 2026.

Binance said it will absorb the loss rather than pass it to customers, using its SAFU, Futures Insurance Fund and corporate treasury to buy replacement tokens. The FBI warned the stolen assets are being converted into ether and could be laundered through DeFi platforms and instant swap services.