Binance Reports a Record $6.3 Billion Crypto Theft, With Researchers Pointing to North Korean Hackers

Binance reported on 29 October that about $6.3 billion in crypto assets was stolen, making it the largest crypto theft on record. The previous record was the roughly $1.5 billion Bybit hack in February 2025. The exchange paused customer withdrawals and warned the figure may continue to increase as it traces and freezes assets.

TRM Labs and Chainalysis attribute the attack with high confidence to TraderTraitor, a North Korean hacking unit linked to the Lazarus Group; Elliptic also names North Korea as the likely culprit. Estimates range from about $6.4 billion to $6.43 billion. The FBI is investigating but has not publicly named a culprit, and North Korea denies involvement in crypto theft.

Binance said about $3 billion has been frozen, including more than $2.3 billion by Tether and Circle. The fate of the remaining roughly $3.3 billion has not been disclosed.