FBI blames North Korea for $6 billion Binance crypto theft
The FBI has attributed the theft of over $6 billion in cryptocurrency from trading platform Binance to North Korea, stating a state-directed hacker unit converted the stolen bitcoins into ethereum and may conduct further laundering phases. The FBI previously linked a North Korean hacking group to a $1.5 billion theft from crypto exchange ByBit, calling this new cybercrime method "TraderTraitor." Binance reported it has reimbursed 90 percent of stolen crypto to users and plans to compensate the remainder. The hack, estimated at $6.3 billion, caused sharp cryptocurrency price drops, though bitcoin's decline stayed limited. Binance withdrew from the Dutch market in 2023 after failing to obtain a license from regulator DNB.