FBI blames North Korea for $6B Binance hack; withdrawals resume in phases

The FBI has formally accused North Korea of stealing over $6 billion in virtual assets from Binance, the world's largest cryptocurrency exchange, in what appears to be the biggest crypto heist ever. The attack occurred on or about October 29, 2026, and the FBI identifies a Pyongyang-affiliated group called TraderTraitor—also blamed for a $1.5 billion theft from Bybit in February 2025—as responsible.

Binance suspended all withdrawals immediately after the breach but began phased resumption on Sunday, prioritizing tokens by user demand. The exchange says it has used company funds to buy back tokens covering 90% of the stolen assets (over $6.34 billion set aside) and pledges full coverage of all losses. The remaining 10% involves less liquid tokens that may take longer to source.

Bitcoin plunged nearly 5%, Ethereum dropped 6%, and Binance's native BNB tumbled almost 10% on the news. The FBI warns that TraderTraitor is converting stolen assets into Ethereum and expects further laundering through decentralized finance and instant swap services, urging private entities to block related addresses.

For Nigerian crypto users—among Binance's largest African user base—this raises immediate questions about platform security and asset safety. Withdrawals are reopening gradually; check your specific token availability. The FBI's attribution to a sanctioned state actor also signals potential regulatory ripple effects for crypto exchanges operating in Nigeria.

Will you keep funds on Binance given its recovery pledge, move assets to cold storage, or diversify across exchanges—and how does this hack change your trust in centralized platforms?

SOURCE: https://www.channelstv.com/2026/11/01/north-korea-behind-6bn-crypto-theft-from-binance-says-fbi/