FBI Links North Korea to $6 Billion Binance Crypto Theft
The FBI accused North Korea on Saturday of stealing over $6 billion in virtual assets from cryptocurrency exchange Binance, marking what is believed to be the largest crypto heist ever recorded. The agency observed North Korean actors laundering the stolen funds by converting them into Ethereum. 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 over $6.34 billion in company funds to cover losses, replenishing 90% of stolen tokens, with withdrawals expected to resume Sunday. The hack caused major cryptocurrency prices to fall sharply on Friday, with Bitcoin dropping nearly 5% and Ethereum nearly 6%. President Donald Trump cast doubt on North Korea's involvement, saying "We don't know if it's North Korea," while the attack has raised concerns about AI capabilities compromising security protocols.