PYONGYANG-(MaraviPost)-One of the world’s largest cryptocurrency trading platforms, Binance, has reportedly suffered a massive cyberattack in which hackers stole approximately US$6.36 billion, equivalent to about K15.4 trillion using the reported Malawi black-market exchange rate.
The attack, reported on October 29, 2026, has been linked with high confidence to TraderTraitor, a hacking group associated with North Korea, according to blockchain intelligence investigations.
Reports indicate that the stolen funds were transferred across 10 blockchain networks, with most of the transactions taking place within approximately 20 minutes.
Blockchain intelligence firms have also reported that approximately US$3 billion of the stolen funds has been frozen through cooperation with cryptocurrency companies and other industry players.
However, approximately US$2.4 billion is reported to have remained under the control of the attackers, meaning the frozen funds have not all been recovered.
Binance has assured its customers that they will not bear the losses resulting from the incident, pledging to use its internal corporate reserves to compensate affected users.
The company has also announced that it has started returning affected assets to users, while maintaining that it has sufficient financial resources to cover the losses.
The incident highlights growing concerns about cybersecurity in the cryptocurrency industry, particularly the ability of sophisticated hacking groups to target major digital asset platforms.
North Korean-linked hacking groups have previously been accused of carrying out major cryptocurrency thefts, with stolen digital assets reportedly used to generate funds for activities linked to the country.
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