Binance is cooperating with the FBI and U.S. Secret Service following a $6.4 billion theft from the exchange. A person familiar with the matter told Reuters that Binance is working with law enforcement agencies globally.
The FBI confirmed awareness of the incident and said it was working with public and private partners to assess scope and coordinate investigative steps. The Secret Service did not comment.
Circle, which issues the USDC stablecoin, has frozen more than $800 million in assets tied to the attack. CEO Jeremy Allaire said the company is coordinating with law enforcement and will continue supporting the investigation.
Tether froze another $1.5 billion in USDT tokens. Both stablecoin issuers can blacklist specific blockchain addresses, effectively immobilizing stolen funds before investigators identify those responsible.
Blockchain intelligence firms TRM Labs and Chainalysis linked the $6.3 billion theft to TraderTraitor, a hacking group associated with North Korean cyber operations. The same group was linked to the $1.5 billion Bybit hack in February 2025, which the FBI also attributed to North Korean hackers.
Binance said it will cover all losses using company funds and its Secure Asset Fund for Users. CEO Richard Teng said the company had reserved more than $6.34 billion to cover the stolen assets, while approximately $3 billion had already been located or frozen. Binance initially suspected a compromised laptop belonging to a DevOps engineer provided attackers access. Withdrawals remain suspended while the exchange reviews security infrastructure, targeting resumption by Sunday.