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Blockchain intelligence firms link North Korea to $6.3B hack on Binance

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Blockchain intelligence firms TRM and Chainalysis attribute a theft affecting about $6.3 billion in Binance assets to TraderTraitor, a North Korean hacking group. TRM says roughly $6.36 billion was moved from Binance wallets across ten blockchains, mostly within 20 minutes, making it potentially the largest cryptocurrency theft on record. The firms cite similarities to earlier North Korea-linked attacks, including the 2025 Bybit hack. Binance says it has worked with partners to freeze about $3 billion in affected assets and is starting to recover assets for users. Deposits remain available, withdrawals are temporarily suspended, and the exchange says it will cover all losses.

Binance’s initial investigation pointed to a compromised laptop, but it later identified additional possible breach points. The company says it has found no evidence that wallet private keys were leaked and is working with law enforcement to identify those responsible. A cybersecurity executive questioned whether approval controls were adequate, suggesting that one authorization may have given an attacker lasting, unrestricted access to a hot wallet. The breach comes amid a broader pattern of North Korean cyber theft: experts say illicit digital-asset operations help the country obtain foreign currency despite sanctions and support its nuclear program. Binance founder Changpeng Zhao, who no longer runs the company, said user funds were safe and expected them to be fully covered.

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