The FBI officially identified North Korea as the perpetrator behind the $6.3 billion hack of Binance, the world's largest cryptocurrency exchange, on October 31. This confirmation follows earlier assessments by U.S. blockchain analysis firms, highlighting concerns over North Korea's illegal funding through cryptocurrency theft.
In a statement on its website, the FBI said, "North Korea is responsible for the theft of over $6 billion in cryptocurrency from Binance on or around September 29." The agency linked the attack to the North Korean hacking group known as 'TraderTraitor.'
The FBI, in collaboration with the U.S. Secret Service and the IRS Criminal Investigation Division, reported that North Korean hackers were observed converting the stolen assets primarily into Ethereum (ETH). They warned of potential further money laundering attempts using decentralized finance (DeFi) platforms and instant exchange services to convert the assets into other cryptocurrencies.
The FBI also released a list of wallet addresses that may have been used by the hackers, urging the cryptocurrency industry to block transactions related to these addresses.
This incident underscores North Korea's ability to secure substantial illegal funding through cyberattacks, even amid extensive international sanctions related to its nuclear and missile programs. Observers suggest that the resurgence of North Korean cybercrime and illicit financing could complicate the Trump administration's efforts to resume dialogue with North Korea.
However, President Donald Trump, speaking at his Mar-a-Lago residence, refrained from confirming North Korea's involvement when questioned about the Binance hack. He stated, "I don't know if it's North Korea, but if it is, I will talk to them about it," maintaining a cautious stance. He had previously remarked, "I don't know. We're looking into it."
Binance reported that the hack, which involved the compromise of an engineer's laptop and vulnerabilities in its transaction approval system, resulted in the unauthorized withdrawal of $6.3 billion worth of cryptocurrency, marking the largest single hack in the history of the cryptocurrency industry.
Following the incident, Binance temporarily suspended cryptocurrency deposits and withdrawals, working with blockchain-related firms to track and freeze approximately $3 billion of the stolen assets. However, recovering all the dispersed cryptocurrency from various wallets is expected to be challenging.
On October 31, Binance announced on its website that it would fully compensate customers for losses incurred due to the hack, stating that it had secured sufficient funds to cover over 90% of the stolen assets. The company also confirmed that the previously suspended cryptocurrency deposit and withdrawal services would resume on November 1.
* This article has been translated by AI.
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