FBI: North Korea behind theft of over $6 billion in crypto from Binance
The FBI says North Korea stole more than $6 billion in virtual assets from Binance around Oct. 29, in an operation it calls “TraderTraitor”.
Photo: Bluewin
The US Federal Bureau of Investigation (FBI) said North Korea was behind the theft of more than $6 billion in virtual assets from the cryptocurrency exchange Binance around Oct. 29.
The bureau linked the attack to a strand of North Korean malicious cyber activity it calls “TraderTraitor”. It gave few other details and released no supporting evidence.
The FBI, working alongside the US Secret Service (USSS) and the IRS Criminal Investigation division (IRS-CI), said it had observed TraderTraitor actors converting the stolen funds mainly into Ethereum (ETH).
The agency expects the assets to be laundered further through decentralised finance (DeFi) platforms and instant swap services as the hackers push them through later stages of the process.
Binance froze customer withdrawals immediately after the hack and has since reopened them.
