FBI Blames North Korea for Binance Theft of Over $6 Billion
The FBI attributed the reported $6 billion-plus Binance theft to North Korea, days after Trump said the U.S. was still investigating who was responsible.
The FBI has said North Korea was responsible for the theft of more than $6 billion in virtual assets from the crypto exchange Binance. Tree News relayed the attribution, citing Reuters. BWEnews and unfolded repeated it, and Watcher.Guru reported that the FBI had confirmed North Korea's role in what it called a $6.3 billion hack.
The figures differ slightly by outlet. The Reuters-based reports say "more than $6 billion," while Watcher.Guru and Wu Blockchain use the $6.3 billion figure. The sources do not explain the gap, and none of them break down which tokens were taken.
Details from the FBI statement
According to The Defiant, the bureau named TraderTraitor in connection with the theft. The outlet also reported that the FBI sought blocks on the trail used to launder the stolen funds. The short wire-style reports do not say how the FBI reached its conclusion or what evidence it holds.
The Defiant also said Binance was still treating Nov. 1 as its target date for restarting withdrawals. That suggests withdrawals were halted after the incident, but the sources do not describe the scope of the suspension or whether the target date held.
Trump's earlier comments
Before the FBI attribution, President Donald Trump spoke about the incident at the White House. Wu Blockchain reported that on October 30, in the Oval Office, he was asked whether North Korea was behind the reported $6.3 billion theft. He said the U.S. was still investigating.
Trump added that Binance had told him it would recover the stolen funds and had the situation largely under control, but he said "We'll see." He also compared digital payments with paper checks, saying people no longer see their money and that he had long considered that "a little bit dangerous." The FBI's attribution came after those remarks.
What traders should watch
The first thing to watch is whether Binance reopens withdrawals on its Nov. 1 target, as reported by The Defiant. Traders with funds on the exchange will also want to see whether the company provides more detail on the loss and on its recovery claims. Trump relayed those claims, but none of the sources show Binance confirming them directly.
The second is the effort to block laundering routes. The Defiant reported that the FBI is seeking those blocks, so any later freezes or seizures could show how much of the stolen money can be reached. For now the sources give no recovery figures, so any outcome is unconfirmed.
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.