Seoul:North Korean hackers are being blamed for a massive cryptocurrency theft, allegedly stealing approximately $6.36 billion from Binance, the largest cryptocurrency exchange globally, marking the biggest cryptocurrency theft on record.

According to Yonhap News Agency, TRM Labs, a U.S. blockchain intelligence firm, has identified the hacking group TraderTraitor as the likely perpetrators behind the attack. The hackers reportedly targeted Binance on Thursday, extracting digital assets across ten blockchain networks, with the majority of the funds being stolen in just 20 minutes.

The intelligence firm expressed "high confidence" in their analysis, which linked the hacking group to the attack through transaction patterns and similarities with previous North Korean operations. TRM Labs also indicated that the hackers began preparing for the assault at least 36 hours in advance, gaining access to systems that authorize cryptocurrency transfers.

TRM Labs noted that approximately $2.7 billion of the stolen assets have been frozen through efforts by cryptocurrency companies and blockchain operators. However, the hackers still possess around $2.4 billion in Bitcoin and Ethereum. The firm also warned that the hackers might attempt to obscure the origins of the stolen funds by transferring them between various blockchain networks and trading platforms.

This incident surpasses the previous record theft of $1.5 billion from Bybit in February 2025, which was also attributed to TraderTraitor by the U.S. Federal Bureau of Investigation. Additionally, U.S. officials have highlighted North Korea's use of international networks, including facilitators in China, Russia, Cambodia, and Vietnam, to convert stolen digital assets into fiat currency for its procurement activities and weapons of mass destruction programs.