FBI Blames North Korea for Binance Theft of Over $6 Billion
The FBI says North Korea was behind the theft of more than $6 billion from Binance, days after Trump said the US was still investigating the $6.3B hack.
The FBI has attributed the theft of more than $6 billion in virtual assets from the crypto exchange Binance to North Korea. Tree News relayed the attribution, citing Reuters, and unfolded and BWEnews carried the same headline. Watcher.Guru went further, saying the FBI "confirms" North Korea is responsible for what it called the $6.3 billion Binance hack.
The sources give the amount in two ways. The Reuters-based reports say "more than $6 billion," while Watcher.Guru and Wu Blockchain use the $6.3 billion figure. The brief reports do not explain the gap, and they do not say which assets were taken.
What the FBI reportedly did
The Defiant reported that the bureau named TraderTraitor in its attribution. It also said the FBI sought blocks on the laundering trail, meaning efforts to stop the stolen funds from moving through the system. The sources provided do not describe the technical details of the breach or how the funds have been moved.
The Defiant also said Binance has kept Nov. 1 as its target date for restarting withdrawals. That wording suggests withdrawals are currently limited. The sources do not say how long they have been paused or whether the target date will hold.
Trump's earlier comments
The attribution follows remarks from President Donald Trump on October 30. Wu Blockchain reported that he addressed the reported $6.3 billion theft in the Oval Office. Asked if North Korea was responsible, he said the US was still investigating.
Trump also said Binance had told him it would recover the stolen funds and had the situation largely under control, but he added, "We'll see." He compared digital transactions to paper checks, saying people no longer see their money physically, and called that "a little bit dangerous." Going by the sources, the FBI's statement came after his comments.
Why it matters and what to watch
For traders, the main issue is access to funds and how clear Binance is about its recovery. The Defiant's Nov. 1 withdrawal target is the most concrete date in the reports. Traders should check Binance's own announcements to see if it is met. Trump's remark that Binance expects to recover the funds is a claim passed on by him, and the sources do not show how much, if any, has been recovered.
Other things to watch are further details from the FBI or Binance, and whether the effort to block the laundering trail freezes any of the stolen assets. Most of the reports are short headline relays, and only The Defiant adds detail. Traders should treat the figures and the timeline as preliminary until fuller statements appear.
Sources
- Highlight Clip: Trump on Binance Hack: Says He Has Long Been Wary of Digital Money Risks Wu Blockchain
- FBI: NORTH KOREA WAS RESPONSIBLE FOR THE THEFT OF MORE THAN $6 BILLION USD IN VIRTUAL ASSETS FROM CRYPTOCURRENCY EXCHANGE BINANCE - RTRS Tree News
- Tree News: FBI: NORTH KOREA WAS RESPONSIBLE FOR THE THEFT OF MORE THAN $6 BILLION USD IN VIRTUAL ASSETS FROM CRYPTOCURRENCY EXCHANGE BINANCE - RTRS BWEnews
- FBI confirms North Korea is responsible for the $6,300,000,000 Binance crypto hack Watcher.Guru
- FBI: NORTH KOREA WAS RESPONSIBLE FOR THE THEFT OF MORE THAN $6 BILLION USD IN VIRTUAL ASSETS FROM CRYPTO EXCHANGE BINANCE unfolded
- FBI Attributes $6 Billion-Plus Binance Hack to North Korea The Defiant
Written with AI assistance from the sources above and checked against them. Not investment advice.