Binance disclosed a $6B theft linked to the TraderTraitor unit of North Korea, making it the largest single‑hit loss in the cryptocurrency sector.
The breach follows a February 2025 Bybit hack that drained 400,000 ETH worth $1.5B, and precedes earlier raids that stole $625M from Ronin and $292M from KelpDAO, all of which together account for a sizeable fraction of the $2.02B stolen from crypto platforms this year.
TRM Labs, Chainalysis, and other blockchain forensic firms have said the attack was executed by TraderTraitor, while U.S. authorities—FBI, CISA, and Treasury—have publicly named the group in their investigations.
Regulators are tightening oversight of digital asset custodians, and Binance has pledged to strengthen its security protocols, though the company has not yet released a detailed remediation roadmap.