FBI blames North Korea for record $6.3B Binance hack

The FBI said that the Democratic People’s Republic of Korea (North Korea) was responsible for the theft of about $6.3 billion in digital assets from cryptocurrency exchange Binance on Thursday.

The FBI said on Saturday in a news release that it refers to this specific North Korean malicious cyber activity as “TraderTraitor,” which it has most recently observed converting stolen assets mostly into Ether (ETH).

It expects these assets to be further converted, using DeFi and instant swap services, as the hackers move to more advanced laundering stages.

The FBI urged private sector entities including THORNode operators, RPC node operators, instant exchanges, DeFi services, blockchain analytics firms and other digital asset service providers to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets.