FBI blames North Korea for $6.3B Binance theft; 90% of funds recovered
- The FBI attributed the $6.3 billion Binance heist to the North Korean-linked group TraderTraitor.
- Binance has restored 90% of the stolen assets and frozen $3 billion on blockchain networks.
- President Donald Trump has expressed skepticism regarding the official attribution to North Korea.
- The heist and Federal Reserve interest rate decisions triggered a drop in Thai gold prices.
The Federal Bureau of Investigation has officially attributed a $6.3 billion cryptocurrency heist from the exchange Binance on October 29, 2026, to North Korean hackers. The agency identified the group responsible for the theft as TraderTraitor, a state-sponsored unit linked to North Korea.
The breach occurred at 20.05 UTC on October 29, when hackers compromised the exchange's internet-connected wallets and stole digital assets including Bitcoin, Ethereum, BNB, USDT, and USDC. In a statement released on Saturday, the FBI linked the incident to "malicious cyber activity" by the group.
This massive hack took place late last week. The total value of the stolen assets reached $6.3 billion. The official identification of the hackers and the scale of the theft have led the FBI to urge blockchain investigators and cryptocurrency exchanges to block transactions associated with identified digital addresses.
Binance restores 90% of stolen digital assets
Binance announced on October 30, 2026, that it would absorb the losses from the breach rather than passing them to customers.
Reports on the recovery of stolen assets vary, with Techbuzz.ai stating that Binance has restored 90% of the losses, while The News reports that Binance has covered 95% of the stolen assets.
TraderTraitor group identified as repeat offender
The FBI identified the hacking entity as "TraderTraitor," a group previously linked to a $1.5 billion (approx. This incident represents the largest cryptocurrency theft attributed to a nation-state, surpassing the $351 million (approx.
The $6.3 billion (approx. The $6.3 billion stolen from Binance is more than four times the amount taken from Bybit in 2025. Binance is the largest cryptocurrency exchange in the world.
FBI tracks conversion of stolen funds to Ethereum
The FBI, working with the USSS and IRS-CI, observed the perpetrators converting stolen assets into Ethereum. Investigators expect further laundering of these funds through decentralized finance (DeFi) and instant swap services.
President Trump questions official attribution
Former President Donald Trump questioned whether North Korean responsibility for the attack on the exchange had been conclusively established.
Binance TH suspends transfers amid security review
Gulf Binance Co Ltd, the operator of Binance TH, suspended cryptocurrency deposits and withdrawals on October 30, 2026, as a precautionary measure.
Thailand's Securities and Exchange Commission conducted a preliminary assessment of licensed domestic operators and found no significant impact on customer assets. Thai regulators reported that there were no significant domestic cryptocurrency losses following the incident. The commission instructed companies to monitor for suspicious transactions and report their security measures.
Thai gold market hits one-year low
Thai gold prices reached a one-year low by Saturday, October 31, after falling ฿2,200 per baht-weight over two trading sessions. By Sunday, November 1, Thai gold bars were selling for ฿62,250 and jewellery for ฿63,050, which is ฿2,150 lower than the closing price on Thursday, October 29.
Pichaya claimed the theft involved nearly ฿200 billion in digital assets and contributed to a decline of over 500 points in American stocks and more than 20 points in the Thai stock market.
Following the Binance incident, some investors sold gold to raise cash due to fears of losing cryptocurrency savings, while other customers purchased jewellery as prices declined.
Federal Reserve maintains interest rates at 3.75-4%
Federal Reserve policymakers Lisa Cook and Beth Hammack voted in favor of a quarter-point interest rate increase during the October 28 meeting.
Frequently Asked Questions
- North Korea linked to massive Binance crypto heist | The Verge (theverge.com)
- FBI Pins $6.3B Binance Heist on North Korea's TraderTraitor | The Tech Buzz (techbuzz.ai)
- Binance resumes withdrawals after covering 95% of assets in massive $6B crypto Heist (thenews.com.pk)
- Thai Gold market in Thailand shaken by huge Binance cryptocurrency theft linked to North Korean actors - Thai Examiner (thaiexaminer.com)
- FBI Blames North Korea for $6 Billion Binance Crypto Hack - Bloomberg (bloomberg.com)
- Binance hack update: FBI blames North Korea but Donald Trump says “we don’t know’ | Nine.com.au (nine.com.au)
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