Key facts
- North Korea is responsible for the theft of more than $6 billion in cryptocurrency from Binance.
- The FBI identified the operation as "TraderTraitor."
- Hackers converted stolen assets primarily into Ethereum.
- Stolen funds are expected to be laundered through decentralized finance platforms and exchange services.
The U.S. Federal Bureau of Investigation (FBI) announced on Saturday, October 31, 2026, that North Korea was responsible for the theft of over $6 billion in cryptocurrency from Binance. The agency referred to the operation as "TraderTraitor," a designation previously linked to North Korean cyber theft activities. The FBI, in conjunction with the U.S. Secret Service and the Internal Revenue Service's Criminal Investigation division, observed that the hackers converted the stolen assets primarily into Ethereum. The FBI cautioned that the perpetrators are expected to further launder the funds through decentralized finance platforms and cryptocurrency exchanges. This announcement aligns with an earlier assessment by TRM Labs, a U.S. blockchain intelligence firm, which also attributed the estimated $6.36 billion theft to TraderTraitor.