Binance has covered 90% of the $6.3 billion in digital assets stolen in a record-breaking cyberattack, with the FBI confirming North Korea-linked hackers were behind the breach. The exchange said it is using $6.34 billion in company funds to replenish stolen tokens, with the remaining 10% of assets being less liquid. The attack, which occurred on October 29, 2026, is believed to be the largest cryptocurrency heist in history.
The FBI has identified a group known as TraderTraitor, linked to North Korea's Lazarus Group, as the perpetrators of the hack. The agency said the attackers converted stolen assets into Ethereum and planned to launder them further using decentralized finance services. Binance said it is working with law enforcement and blockchain analysis firms to trace the stolen funds and prevent further transactions.
The breach has raised concerns about the security of centralized crypto exchanges and the potential for state-sponsored hacking. Binance said it is committed to covering the financial impact of the incident, with the remaining 10% of assets expected to be resolved through additional measures. The attack has also caused significant drops in cryptocurrency prices, highlighting the vulnerability of the industry to large-scale cyberattacks.