Secret

SAFU

Billion

<h2 id="span-span-style-font-size-16px-what-happened-in-the-6-3-billion-binance-hack-span-span">What Happened in the $6.3 Billion Binance Hack?</h2>
<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow">Crypto news</a> took a dark turn this week as Kim Yo-jong denies FBI claims tied to the biggest exchange hack ever.&nbsp;
On October 29, 2026, attackers got into Binance’s hot wallets and pulled out roughly $6.3 billion in tokens across several blockchains. No exchange has ever lost more in a single hack.&nbsp;
In its&nbsp;<a href="https://www.binance.com/en-IN/support/announcement/detail/d3306d9dca5243548c813b605e1d1751" rel="noopener noreferrer nofollow">official Security Incident Update</a>, Binance said it would absorb the losses, so users would not bear them. The exchange set aside more than $6.34 billion, including SAFU funds, and about $3 billion of the stolen assets was frozen on-chain. Withdrawals were paused for security reviews.
<img alt="The Block Official X Post" src="https://d3iuzwoiyg9qa8.cloudfront.net/webadmin/storage/public/commonEditerImage/8b9DmdcFZfIErNYhsQrN0AcggZN4WcjqFxBD1Ehl.jpg" width="300" height="235" title="The Block Official X Post">
Source:&nbsp;<a href="https://x.com/TheBlockCo/status/2117380543843295740" rel="noopener noreferrer nofollow">The Block Official X Post</a>
<h3 id="span-span-style-font-size-16px-why-did-the-fbi-blame-north-korea-span-span">Why Did the FBI Blame North Korea?</h3>
On October 31, the FBI formally named North Korea as responsible and tracked the activity as “TraderTraitor.” The attribution was backed by the U.S. Secret Service and IRS Criminal Investigation, although Kim Yo-jong denies FBI conclusions about the attack.
According to the FBI update:
<ul>
 <li>Attackers converted most stolen assets into Ethereum (ETH).</li>
 <li>Further laundering through&nbsp;<a href="https://www.coingabbar.com/en/crypto-currency-news/defi-protocols-lose-129m-in-48-hours-amid-oracle-failures" rel="noopener noreferrer nofollow">DeFi protocols</a> and instant swap services is expected.</li>
 <li>Hundreds of Ethereum, Bitcoin, and Solana addresses were published.</li>
</ul>
The agency urged exchanges and&nbsp;<a href="https://www.coingabbar.com/en/openai-ai-agents-government-hack-crypto-security-risk" rel="noopener noreferrer nofollow">crypto security</a> teams to block related transactions.
<h3 id="span-span-style-font-size-16px-how-blockchain-firms-linked-the-attack-span-span">How Blockchain Firms Linked the Attack</h3>
TRM Labs and Chainalysis had already tied the on-chain patterns to the same actors behind the February 2025&nbsp;<a href="https://www.coingabbar.com/en/crypto-currency-news/bybit-hack-2025-the-largest-crypto-breach-in-history" rel="noopener noreferrer nofollow">Bybit hack</a>, which was worth about $1.5 billion. Analysts saw the same pattern as a repeat of that playbook.
Broader reporting connects TraderTraitor with groups such as Lazarus Group and APT38.
<h3 id="span-span-style-font-size-16px-kim-yo-jong-denies-fbi-claim-what-did-she-say-span-span">Kim Yo-jong Denies FBI Claim: What Did She Say?</h3>
On November 2–3, Kim Jong-un’s sister issued a statement&nbsp;<a href="https://kcnawatch.org/" rel="noopener noreferrer nofollow">through KCNA</a>. In it, Kim Yo-jong denies FBI claims and calls the attribution “baseless nonsense.”
She said Washington keeps trying to brand Pyongyang a cybercrime state, and she cited the earlier Bybit allegations. She also pointed to U.S. plans for a crypto reserve built from confiscated assets. She suggested that asking who receives the recovered funds “may get a clue” about the real culprit.
Kim Yo-jong denies FBI claims but also warned there would be “matters to reconsider” in North Korea’s stance toward the U.S.
<h3 id="span-span-style-font-size-16px-what-happens-next-as-kim-yo-jong-denies-fbi-claims-span-span">What Happens Next as Kim Yo-jong Denies FBI Claims?</h3>
Binance is covering nearly all losses from company funds. According to The Block, customer outflows passed $4.7 billion as withdrawals resumed in phases. The exchange has promised a full post-mortem, and its&nbsp;latest Binance news updates are expected to focus on proof-of-reserves.
For now, the dispute leaves open questions about state-linked cyber activity and sanctions evasion. Recovery work continues, and now that Kim Yo-jong denies FBI claims, the standoff is likely to shape crypto security debates in the weeks ahead.
Disclaimer: This article is for educational and informational purposes only and should not be considered financial or investment advice. Always conduct your own research before making investment decisions.

Kim Yo-jong Denies FBI Claim Tying North Korea to $6.3B Binance Hack

Table of Contents

Coingabbar

Other articles published on Nov 3, 2026

Join our free newsletter for daily crypto updates!