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The $6.4 Billion Binance Hack: Tracing the North Korea Link

Publisher
Chainalysis (Analytics firm)
Original
https://www.chainalysis.com/blog/binance-exploit-latest-findings-and-response
Published
First seen
Last captured
Watched for edits
Yes, captured again on a schedule

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firecrawl-web082005eb4d1d5e510578854843e63b881901275c38c726862d795e2846a4f004c4e1ff11b32b33f431a65ba82080dd9ab07be6373778e4252f84647e5809999661cacNo

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Claims quoted from this source

ReportedamountStatement 189

Chainalysis said funds began leaving Binance hot wallets around 4:20 p.m. ET on October 29, 2026, and that unauthorized transfers totaled approximately $6.4 billion.

Around 4:20 p.m. ET on October 29, 2026, funds began leaving Binance hot wallets across multiple blockchains. Unauthorized transfers totaled approximately $6.4 billion, the largest theft in crypto history.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
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Stored copy
sha256 5eb4d1d5e510
Event time
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ReportedfreezeStatement 191

Chainalysis said freezes started by 5:14 p.m. Eastern.

But the industry caught up with them more quickly than they expected: by 5:14 pm eastern the freezes started.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
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sha256 5eb4d1d5e510
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ReportedfreezeStatement 299

Chainalysis said stablecoin issuers began freezing funds by 5:14 p.m. ET on 29 October.

Stablecoin issuers began freezing funds by 5:14 p.m. ET on October 29

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
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sha256 5eb4d1d5e510
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ReportedattributionStatement 193

Chainalysis said it announced its attribution to TraderTraitor on October 30 at 12:30 a.m. Eastern Time.

That direct on-chain link strengthened our assessment that TraderTraitor carried out the Binance hack and we announced it on October 30, 12:30am Eastern Time.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
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sha256 5eb4d1d5e510
Event time
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ReportedattributionStatement 190

Chainalysis said it attributes the hack to TraderTraitor, a North Korean cybercrime group.

Chainalysis attributes the hack to TraderTraitor, a North Korean cybercrime group.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
Captured
Stored copy
sha256 5eb4d1d5e510
Published
ReportedfreezeStatement 192

Chainalysis said approximately $2.8 billion had been frozen so far.

Approximately $2.8 billion has been frozen so far.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
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sha256 5eb4d1d5e510
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ReportedotherStatement 194

Chainalysis said the attacker swapped $325 million in stablecoins into $285 million in ETH over nearly 20 minutes to try to stay ahead of the freezes.

Over nearly 20 minutes it swapped $325 million in stablecoins into $285 million in ETH.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
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Stored copy
sha256 5eb4d1d5e510
Published
ReportedotherStatement 195

Chainalysis said many addresses receive exactly 1 TRX, then additional funds, then forward the funds, which it said suggests a programmatic process.

Many addresses follow a consistent pattern: they receive exactly 1 TRX, then receive additional funds, then forward funds to other addresses.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
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Stored copy
sha256 5eb4d1d5e510
Published
ReportedotherStatement 296

Chainalysis said that this repeated sequence suggests a programmatic process for moving and redistributing the stolen funds.

This repeated sequence suggests a programmatic process for moving and redistributing the stolen funds.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
Captured
Stored copy
sha256 5eb4d1d5e510
Published
ReportedattributionStatement 297

Chainalysis said its strongest evidence for TraderTraitor was seeing Binance funds commingle in real time with funds stolen in the Bitget exploit.

The strongest evidence emerged when Chainalysis investigators observed, in real time, funds stolen from Binance commingling with funds stolen in last month’s Bitget exploit, which had been attributed to North Korean actors.

Speaker
Chainalysis
Publisher
Chainalysis (Analytics firm)
Original
The $6.4 Billion Binance Hack: Tracing the North Korea Link
Captured
Stored copy
sha256 5eb4d1d5e510
Published