FBI Links Binance Crypto Heist to North Korean Hackers

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 to obscure traces. The FBI previously identified a North Korean hacking group as responsible for a $1.5 billion theft from crypto exchange ByBit last year, which was then the largest heist in crypto history. The agency uses the term "TraderTraitor" for this cybercrime method, noting hackers quickly spread stolen coins across thousands of addresses to reduce traceability. Binance, the world's largest crypto platform, said it has reimbursed 90 percent of stolen funds to users using its own resources and plans to compensate the remaining 10 percent, with co-owner Richard Teng stating users will face no financial damage. The hack caused sharp price drops in cryptocurrencies, though bitcoin's decline remained limited to a few percent.