FBI Says North Korea Behind $6.3 Billion Binance Hack

The Federal Bureau of Investigation said Saturday that North Korea was responsible for the $6.3 billion theft from crypto exchange Binance, the largest crypto hack in history.

The FBI said the agency, working with the U.S. Secret Service and the criminal arm of the Internal Revenue Service, had observed individuals from a North Korean cyber group known as TraderTraitor converting stolen assets into Ethereum. “It is expected these assets will then be further laundered by converting them using DeFi and instant swap services as they prepare them for further laundering stages,” the agency said.

Binance said earlier Saturday that it had set aside more than $6.34 billion in company funds to cover hacked losses, and had covered up to 90% at that point. “ Binance will fully cover the financial impact of the funds stolen in this incident,” it wrote in a post on X.