BUSINESS TIMES SG · 2026-11-01 00:33 UTC

FBI blames North Korea for US$6 billion Binance crypto hack

FBI attributes a US$6 billion hack on Binance to North Korean actors, with stolen assets being converted primarily into Ethereum. Binance has covered 90% of the US$6.3 billion loss and plans to restore withdrawals by November 1, absorbing the full impact so users suffer no losses. The hack is the largest in cryptocurrency history; North Korean hacking unit TraderTraitor was previously blamed for the US$1.5 billion Bybit attack in 2025.

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