
Binance promises to fully bear user losses and activate its own funds to repurchase stolen assets
AI-generated summary
The TraderTraitor organization was previously involved in a $1.5 billion hack against the Bybit exchange. This incident involved the theft of more than $6 billion in virtual assets.
The FBI said on Saturday (October 31) local time that North Korea was the initiator of the hacker attack on the cryptocurrency exchange Binance.
"North Korea is responsible for this theft. On or about October 29, 2026, more than $6 billion in virtual assets were stolen from the cryptocurrency exchange Binance," the FBI wrote in a statement.
The theft comes amid growing concerns that artificial intelligence models pose a threat to encryption and IT security.
The hack, which reportedly took place within minutes, is considered the largest theft in cryptocurrency history.
The stolen assets include Bitcoin, Ethereum, Tether and USD Coin. Prices of several major cryptocurrencies fell after news of the theft came to light on Friday.
Binance exchange suspended withdrawals after being hacked. On Sunday (November 1), the exchange resumed the withdrawal function in stages, with a total of 15 cryptocurrencies open for withdrawal in the first batch, including Bitcoin, Ethereum, Ripple (XRP) and Dogecoin.
The FBI said the theft was related to malicious cyber activity conducted by a group called "Trader Traitor." This organization is also the group behind the $1.5 billion hacking attack on the Bybit exchange last year.
The FBI stated that they "observed relevant personnel of Trader Traitor converting stolen assets" mainly into Ethereum, stating that these assets would then be laundered through decentralized financial platforms and instant exchange services, while preparing for subsequent money laundering. "
The FBI requires cryptocurrency exchanges, blockchain analysis companies and other relevant institutions to block transactions associated with specific addresses to prevent stolen funds from being laundered to conceal their origin.
Binance is the world’s largest cryptocurrency exchange by daily trading volume.
Binance said on Saturday that it was initiating more than $6.34 billion of its own funds to purchase tokens to recoup about 90% of the assets stolen in the attack. The remaining 10% of assets are made up of less liquid tokens, meaning it may take longer to buy back those tokens, the company said.
Binance posted on "
AI outlook — possibilities, not facts
Binance will implement stricter withdrawal and security verification processes
Very likely · Within weeks

In order to cooperate with the implementation of the "Virtual Asset Services Act", the Taiwan Financial Supervisory Commission has developed 9 sub-laws, covering VASP establishment licenses, capital amounts, financial soundness, custody security and stable coins, etc., and will be announced in the near future to solicit opinions.

Binance, the world's largest cryptocurrency exchange, said it would resume withdrawal services in phases after replenishing 95% of the $6.3 billion worth of tokens stolen from the platform. The FBI linked the world's largest digital asset theft to the North Korean hacker group Trader Traitor.

U.S. President Trump said on the 30th that the government is looking into whether North Korea was responsible for the hacking of Binance, the world's largest cryptocurrency trading platform. This attack resulted in the theft of approximately US$6.3 billion in assets, making it the largest theft in the history of the digital asset industry.

Two blockchain analysis companies said they have a high degree of confidence that the North Korean hacker group "Lazarus Group" was behind the hack of the cryptocurrency exchange Binance that cost $6.3 billion. Binance co-CEO Deng Weizheng said that the investigation found other compromised links, and about 80% of the stolen assets have been preserved.

Binance, the world's largest cryptocurrency exchange, is suspected of suffering a large-scale hacker attack, causing panic selling in the market. Well-known investor "Big Brother Maji" Huang Licheng's positions on the Hyperliquid platform were liquidated 8 times within 6 hours, leaving only $1.50 in balance, with a cumulative loss of more than $37 million.

Binance, the world's largest cryptocurrency exchange, was hacked and suffered a record loss of $6.3 billion. U.S. analysts suspect that it was carried out by North Korean hackers. Binance has suspended withdrawals and promised full compensation. Currently, some assets have been frozen. The market has fallen overall due to this news.