Chainalysis links Binance exploit to North Korea’s TraderTraitor

Chainalysis said it assesses the $6.4 billion Binance hack to be the work of North Korea-linked cybercrime group TraderTraitor, describing the attack as the largest in crypto history and one of the biggest financial crimes ever recorded. The firm said its conclusion was based on on-chain activity observed in the hours after the Oct. 29 breach and on a direct link between funds stolen from Binance and funds stolen in last month’s Bitget exploit. According to Chainalysis, funds began leaving Binance hot wallets across multiple blockchains at about 4:20 p.m. Eastern Time on Oct. 29. On Ethereum, the attacker used an operational wallet funded through Tornado Cash to submit valid signed authorizations that allowed a Binance hot wallet to run attacker-deployed code, after which assets were swept into attacker-controlled addresses.

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