Binance hit by record $6.3B hack, links to North Korea

Briefing by News4U · First published 2026-10-31 03:21:26 UTC

Binance confirmed a $6.3 billion hack on Thursday, the largest cryptocurrency theft on record, with funds drained from wallets across ten blockchains in about 20 minutes. Blockchain firms TRM Labs and Chainalysis attributed the attack with high confidence to North Korea’s TraderTraitor group. The exchange froze roughly $3 billion in affected assets with partners’ help and said deposits were unaffected while withdrawals were suspended. Binance stated it had already reserved over $6.34 billion in company funds, including $5 billion held in the exact stolen tokens, and would cover all losses. Co-CEO Richard Teng said the company is working with law enforcement to identify the perpetrators. [1] [2] [3] [4]

Sources

1. Binance says it holds $5B in matching tokens to cover hack losses

   Cointelegraph · 2026-10-30 12:41:43 UTC · Full text

2. Blockchain intelligence firms link North Korea to $6.3B hack on Binance

   NPR Business (Associated Press) · 2026-10-30 13:01:22 UTC · Full text

3. Hackers steal $6.3 billion from Binance in record crypto heist

   Ars Technica · 2026-10-30 13:46:39 UTC · Excerpt

4. Why North Korea's 'elite' hackers are the prime suspect in major Binance hack

   BBC World · 2026-10-31 02:12:19 UTC · Full text

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