FBI attributes $6bn Binance hack to North Korea as withdrawals resume
ITF Team1 min read
The FBI confirmed North Korean hackers stole over $6bn from Binance; the exchange saw $3.64bn net outflows in the first nine hours of reopening withdrawals.
The U.S. Federal Bureau of Investigation announced that a North Korean group it labels “TraderTraitor” was behind the theft of more than $6 billion in virtual assets from Binance, the world’s largest crypto exchange. The attribution follows earlier blockchain‑analytics reports from TRM Labs and Chainalysis.
Withdrawal activity after the reopening
Binance began restoring withdrawals at 1 a.m. ET on Sunday and, within the first nine and a half hours, processed $4.65 billion in withdrawals and $1.01 billion in deposits. The net outflow of roughly $3.64 billion represents 2.1 % of the platform’s $171 billion in reported assets.
Law‑enforcement response and laundering trail
The FBI, together with the Secret Service and IRS Criminal Investigation, warned that the hackers have been converting the stolen funds mainly into Ethereum and moving them through decentralized finance (DeFi) platforms, instant‑swap services and cross‑chain bridges. Hundreds of Ethereum addresses, 19 Bitcoin addresses and one Solana address were flagged for blocking.
- More than $500 million was moved on Tron through over 1,000 addresses and multiple DeFi protocols
- Funds have been routed via Chainflip, Relay, THORChain and NEAR to fresh wallets on Ethereum, Bitcoin and other chains
- The Secret Service says it has frozen a significant portion of the stolen crypto within minutes of the attack
What traders are watching next
Market participants will monitor Binance’s upcoming proof‑of‑reserves update, expected on Monday, for any changes to the asset base. Attention also remains on further FBI alerts about address blocks and on the pace of the ongoing laundering investigations, which could affect liquidity on major DeFi bridges and swap services.
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This article is compiled from international market news for information only. It is not investment advice.