FBI links North Korea to $6 billion Binance crypto theft

The FBI has accused North Korea of stealing over $6 billion in virtual assets from cryptocurrency exchange Binance, marking what is believed to be the largest crypto heist ever recorded. Binance has pledged to cover the losses. The FBI attributed the attack to a North Korea-affiliated group called TraderTraitor, which was also blamed for a $1.5 billion theft from Bybit in February 2025. Binance said it has set aside $6.34 billion in company funds, replenishing 90% of stolen tokens, with withdrawals expected to resume. The hack caused major cryptocurrency prices to fall sharply, with Bitcoin dropping nearly 5% and Ethereum nearly 6%. TraderTraitor is linked to the Lazarus Group, which was accused of hacking Sony Pictures in 2014, and the theft highlights North Korea's use of illicit means to generate revenue amid international sanctions.