FORBES · 2026-10-30 18:14 UTC

North Korea's $6 Billion Binance Hack Exposes Crypto's Worsening Security Problem

Hackers stole an estimated $6.4 billion from Binance on Thursday, the largest crypto theft in history, attributed to North Korean hacking unit TraderTraitor by TRM Labs. Binance suspended withdrawals and set aside $6.34 billion to compensate users; about $3 billion of stolen assets were frozen with help from stablecoin issuers and law enforcement. Bitcoin, ether, and BNB fell 5%, 7.5%, and 6.5% respectively; crypto thefts reached 207 incidents in the first half of 2026, totaling nearly $1 billion.

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