TRM Labs, a blockchain intelligence firm that tracks the industry, has declared that an elite North Korean hacking unit called TraderTraitor was responsible for the security breach at Binance.

TRM Labs have also calculated that the breach is “the largest crypto theft on record”

In a report issued this morning, TRM Labs say:

• On October 29, 2026, an attacker moved approximately $6.36bn out of Binance wallets on ten blockchains, most of it in about 20 minutes starting at 20:05 UTC. That makes this the largest crypto theft on record, about four times the $1.5bn Bybit hack of February 2025. Binance has confirmed a security incident and suspended withdrawals on several…