FBI Says North Korea Behind $6 Billion Binance Crypto Theft
Summary
The FBI said North Korea stole more than $6 billion in virtual assets from Binance in an attack that occurred on or about October 29. The bureau linked the theft to the TraderTraitor cyber campaign and urged crypto businesses to block transactions tied to listed addresses as investigators track the stolen funds.Key Facts
- The FBI attributed the theft to North Korea in a cyber alert released Saturday.
- The bureau said the theft involved more than $6 billion in virtual assets.
- The FBI said the hackers have mainly converted the stolen assets into Ethereum.
- U.S. authorities expect the funds to move through decentralized finance platforms and instant-swap services as part of an attempted laundering effort.
- The FBI said the investigation involved the U.S. Secret Service and IRS Criminal Investigation.
- Binance said its initial investigation indicated that a software engineer’s laptop may have been compromised, allowing hackers to access its systems and approve withdrawals.
- The FBI urged crypto companies, exchanges, decentralized finance services, blockchain analytics firms and node operators to block transactions tied to addresses it linked to the attackers.
- TRM Labs said the attack took about 36 hours to prepare and involved code targeting two wallets.
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