The FBI’s Cyber Division has officially identified a North Korean hacking group as responsible for the theft of more than $6 billion in assets from Binance on October 29, naming the attack operation “TraderTraitor.” The investigation was jointly conducted by the FBI, the U.S. Secret Service, and the IRS Criminal Investigation Division, which identified those responsible.
Law enforcement agencies have observed the hackers converting large amounts of stolen assets into Ethereum. They are expected to move the funds through DeFi protocols and instant exchange platforms in multiple stages, laundering them on-chain to evade asset tracking and prepare to clean the money.
The three agencies have issued an alert to the entire industry, asking all crypto service providers—including node service providers, exchange platforms, DeFi projects, and blockchain analytics firms—to freeze and block all transactions associated with the hackers’ addresses. The FBI has made a list of the wallets involved public to help the industry work together to block channels used to transfer the stolen funds.
Law enforcement agencies have observed the hackers converting large amounts of stolen assets into Ethereum. They are expected to move the funds through DeFi protocols and instant exchange platforms in multiple stages, laundering them on-chain to evade asset tracking and prepare to clean the money.
The three agencies have issued an alert to the entire industry, asking all crypto service providers—including node service providers, exchange platforms, DeFi projects, and blockchain analytics firms—to freeze and block all transactions associated with the hackers’ addresses. The FBI has made a list of the wallets involved public to help the industry work together to block channels used to transfer the stolen funds.