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NEW YORK Wednesday, November 4, 2026

Asia

North Korea accused of stealing $6.3 billion from Binance

US government blames North Korean hackers for massive cryptocurrency theft.

New York Editorial News Desk November 4, 2026 1 min read

The Brief

  • Hackers stole $6.3 billion from Binance in 20 minutes.
  • US government attributes attack to North Korean unit TraderTraitor.
  • North Korea's GDP is about $34 billion, with exports totaling $470 million in 2023.

Last week, hackers accessed Binance, the world’s largest cryptocurrency exchange, and stole $6.3 billion in about 20 minutes. The breach occurred through an engineer’s laptop.

The US government has blamed a North Korean hacking unit known as TraderTraitor for the attack. Analysts describe this as the single largest cyber threat ever recorded.

North Korea’s GDP is approximately $34 billion, according to South Korea’s central bank. Its exports last year totaled around $470 million.

The stolen amount represents nearly a fifth of North Korea’s annual income and 13 years’ worth of its exports. Over $3 billion was frozen within hours, primarily by stablecoin issuers.

More than $3 billion still disappeared, accounting for about 10% of North Korea’s GDP. TRM Labs reports that North Korea has stolen $7.4 billion in cryptocurrency this year and $12.8 billion since 2017.

Cyber theft may account for one-third or half of Pyongyang’s foreign currency earnings.

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