FBI Blames North Korean Group TraderTraitor for Theft of About $6.3 Billion from Binance

According to RBC, Kommersant and TASS, the US Federal Bureau of Investigation believes that the attack on Binance was carried out by the hacker group TraderTraitor, which is linked to North Korea. Some reports put the damage at more than $6 billion, others at $6.3 billion.

Earlier, Chainalysis and TRM Labs also linked the hack to this group. According to their data, funds began leaving the wallets at around 16:20 Eastern Time on October 29, and stablecoin issuers froze large amounts. The incident coincided with a sharp drop in the crypto market: bitcoin fell toward $76,000, and liquidations totaled about $1.5 billion.

As Kommersant writes, the hackers are now exchanging the stolen funds for other coins, mainly ether (ETH). The Telegram channel @banksta notes that the amount is comparable to roughly a quarter of North Korea's GDP.

Attributing the theft to a state-backed group may attract the attention of regulators and weaken trust in the exchange and its token. At the same time, the current forecast for BNB is neutral across all horizons, so a significant part of the negativity may already be reflected in the price.