Cybersecurity researchers suspect North Korea’s state-sponsored hacking group, TraderTraitor, carried out a $6.3 billion theft from Binance, the world’s largest cryptocurrency exchange. Blockchain activity and attack methods reportedly match the group’s previous operations.
Hackers moved the funds in roughly 20 minutes, potentially exploiting compromised employee systems, according to The Wall Street Journal. Stablecoin providers froze about $2.8 billion, but more than $3 billion may be unrecoverable.
The theft could push North Korea’s crypto proceeds from major cyberattacks above $5 billion. U.S. officials estimate cybercrime finances roughly half of the country’s missile program.
The suspected record-breaking heist highlights North Korea’s use of cryptocurrency theft to fund its weapons and nuclear programs.
