North Korean state-sponsored hackers have been linked to an approximately $6.36 billion cryptocurrency theft involving Binance, in what blockchain intelligence firm TRM Labs has described as the largest crypto heist on record. The attack has been attributed to TraderTraitor, a hacking group associated with previous major cryptocurrency thefts, including the February 2025 Bybit breach. According to TRM Labs, the stolen funds began moving across 10 different blockchains at approximately 20:05 UTC on October 29, with most of the transfers taking place within just 20 minutes. The speed and scale of the transactions highlight the challenges facing investigators and cryptocurrency platforms attempting to trace and recover stolen digital assets. The incident has raised fresh concerns about the growing capabilities of state-linked cybercriminal networks and the security of major cryptocurrency exchanges.

Several major cryptocurrency companies and blockchain organizations, including Tether, Circle, Ripple, World Liberty Financial and Arbitrum’s Security Council, have reportedly frozen approximately $2.7 billion in assets connected to the incident. However, an estimated $2.4 billion remains beyond their reach, underscoring the difficulty of containing funds after they have moved across multiple blockchain networks. Binance is working with the FBI and the U.S. Secret Service as authorities investigate the reported theft, according to a source familiar with the matter. The exchange has also stated that it has allocated more than $6.34 billion in company funds to cover the incident and has begun efforts to recover affected assets for users. The investigation now centers on tracing the remaining funds, identifying the full scope of the operation and determining how much of the stolen cryptocurrency can ultimately be recovered.