Crypto-Tracing Firms Link Record Binance Heist to North Korean Group
The scale and speed of the reported Binance hack are prompting investigators to examine a possible connection to North Korea. Multiple crypto-tracing firms told Wired that the group known as TraderTraitor may be responsible for the theft of approximately $6.3 billion, which would make it the largest digital heist on record.
According to the report, the operation took roughly 20 minutes. Investigators also believe that a substantial portion of the stolen cryptocurrency may have been moved beyond reach and lost permanently, making recovery unlikely.
The attribution remains a working theory rather than a confirmed conclusion. If the assessment holds, the incident would demonstrate how quickly attackers can move large volumes of digital assets and why identifying transactions before they are concealed remains a central challenge for crypto-tracing firms.