North Korean hackers blamed for record $6.3bn Binance cryptocurrency theft
Blockchain intelligence firm attributes the largest crypto theft on record to an elite North Korean hacking unit.
At a glance
- Approximately $6.36bn stolen from Binance in a single breach on October 29
- TRM Labs attributes the attack to TraderTraitor, a North Korean hacking unit
- Most funds moved within 20 minutes across ten blockchains
- Binance suspended withdrawals on several networks following the incident
A security breach at cryptocurrency exchange Binance resulted in the theft of approximately $6.36 billion, according to blockchain intelligence firm TRM Labs. The firm attributed the attack to TraderTraitor, described as an elite North Korean hacking unit, based on on-chain and off-chain intelligence. Most of the funds were moved within about 20 minutes on October 29.
Binance confirmed the security incident and suspended withdrawals on several networks. TRM Labs said the theft is the largest cryptocurrency theft on record, roughly four times larger than the $1.5 billion Bybit hack from February 2025. The firm is tracking the stolen funds and alerting partners through the Beacon Network.
Why it matters
The breach represents the largest cryptocurrency theft on record, significantly exceeding previous major hacks and highlighting ongoing security vulnerabilities in major crypto exchanges.
Original reporting
- The Guardian — BusinessUK house price growth fizzling out; ‘Elite North Korean hackers’ blamed for $6.3bn Binance hack – business live
- BBC News — WorldWhat we know about Binance's $6.3bn hack
This brief was written with AI assistance from the reports listed above and checked against our editorial policy. Spotted an error? Request a correction.
