What did the FBI say North Korea did to Binance, and what name did it give the operation?

The FBI attributed the theft of more than $6 billion in virtual assets from Binance, on or about October 29, 2026, to North Korea. It identified the cyber operation as TraderTraitor, a name previously associated with cryptocurrency thefts by North Korean hackers.

How were the North Korean hackers moving the stolen Binance cryptocurrency, and where might they launder it next?

The FBI said it observed the hackers converting the stolen assets primarily into Ethereum. It warned they were expected to move funds through decentralized finance platforms and cryptocurrency exchange services that enable quick swaps between digital assets.

FBI says N. Korea responsible for over $6 bil. crypto theft from Binance

Q: What did the FBI, Secret Service and IRS ask cryptocurrency businesses to do about the Binance theft?

The agencies urged cryptocurrency exchanges, blockchain operators, analytics firms and other virtual asset service providers to block transactions involving wallet addresses used by the North Korean hackers to launder the stolen funds.

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Summary

The FBI said Saturday that North Korea stole more than $6 billion in cryptocurrency from Binance on or about October 29, 2026. The agency identified the operation as TraderTraitor and said the hackers were converting the stolen assets primarily into Ethereum. The FBI, Secret Service and IRS urged virtual asset service providers to block transactions involving wallet addresses used to launder the funds.

Key Facts

The FBI said it observed the hackers converting the stolen assets primarily into Ethereum in cooperation with the U.S. Secret Service and the IRS Criminal Investigation division.
The agency warned that the hackers were expected to launder more assets through decentralized finance platforms and cryptocurrency exchanges that allow rapid swaps between digital assets.
The three U.S. agencies urged cryptocurrency exchanges, blockchain operators, analytics firms and other virtual asset service providers to block transactions involving the hackers’ wallet addresses.
TRM Labs had earlier attributed the estimated $6.36 billion theft to TraderTraitor.

By Yonhap

Published Nov 1, 2026 7:55 am KST

the corporate logo of Binance/ AP-Yonhap

WASHINGTON — The U.S. Federal Bureau of Investigation (FBI) said Saturday that North Korea was responsible for the theft of more than $6 billion in cryptocurrency from Binance, the world's largest cryptocurrency exchange, earlier this week.

"The FBI is releasing information advising the Democratic People's Republic of Korea was responsible for the theft of more than $6 billion in virtual assets from cryptocurrency exchange Binance, on or about October 29, 2026," the agency said in a cyber alert, referring to North Korea by its official name.

The FBI identified the North Korean cyber operation as "TraderTraitor," a name previously associated with cryptocurrency thefts carried out by North Korean hackers.

The agency said it had observed the hackers converting stolen assets primarily into Ethereum, a major cryptocurrency, in cooperation with the U.S. Secret Service and the Internal Revenue Service's Criminal Investigation division.

The FBI warned that the hackers were expected to further launder the stolen assets through decentralized finance platforms and cryptocurrency exchange services that allow users to quickly swap one digital asset for another.

The three U.S. agencies urged cryptocurrency exchanges, blockchain operators, analytics firms and other virtual asset service providers to block transactions involving digital wallet addresses used by the North Korean hackers to launder the stolen funds.

The FBI's announcement follows an assessment by U.S. blockchain intelligence firm TRM Labs, which earlier attributed the estimated $6.36 billion Binance theft to TraderTraitor.

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