FBI also confirms North Korea is behind billion-dollar hack of crypto exchange Binance
The FBI has identified the North Korean hacker group TraderTraitor as the entity responsible for a multi-billion dollar theft from the Binance cryptocurrency exchange. Binance has confirmed that it is covering 90 percent of the losses using its own reserves to prevent financial impact on its users.
The FBI has formally attributed a massive multi-billion dollar cryptocurrency hack against the Binance exchange to the North Korean hacker group known as TraderTraitor. Investigations revealed that the attackers managed to illicitly acquire vast sums of digital assets in a breach lasting only twenty minutes. Federal authorities have determined that these hackers are actively laundering the stolen funds, primarily by converting them into Ethereum to obfuscate their origins. This group has also been linked to other major cyber heists in the crypto sector, including a significant theft from the Bybit exchange earlier in 2025.
In response to the security breach, Binance has stated that it has already secured approximately 90 percent of the affected assets using company reserves and insurance funds. The exchange publicly committed to protecting its users from financial loss, noting that the remaining 10 percent of stolen tokens are less liquid and will take more time to recover. The company has set aside over 6.3 billion dollars in total to address the incident and ensure user protection remains the priority.
Based on reporting by ad. Translated and condensed by LocalHeadlines.
