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Binance works with FBI and Secret Service after $6.4bn hack, Decrypt reports

Binance is cooperating with US law enforcement after hackers stole $6.4bn, Decrypt reports. Circle froze about $823m in USDC and Tether froze $975m in USDT tied to the attack.

InvestIn.News NewsDesk · 1 min read
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Picture from Decrypt for: Binance works with FBI and Secret Service after $6.4bn hack, Decrypt reports
Image: Decrypt
Original reporting: Jose Antonio Lanz, Decrypt

Key points

  • Hackers stole $6.4bn from Binance, with the FBI and Secret Service now involved in the investigation.
  • Circle froze roughly $823m in USDC and Tether froze $975m in USDT connected to the incident.
  • TRM Labs and Chainalysis linked the theft to TraderTraitor, a North Korean group tied to the $1.5bn Bybit hack.

Binance is working with the FBI and the US Secret Service after hackers stole $6.4bn from the exchange, Decrypt reports.

Circle, the issuer of the USDC stablecoin, said it had frozen more than $800m in USDC linked to the Binance incident, with CEO Jeremy Allaire saying the company was coordinating with law enforcement. Tether froze another $1.5bn in USDT. Both issuers can blacklist blockchain addresses, stopping their tokens from being moved out of those wallets, which lets them immobilise stolen funds before investigators identify those responsible.

Binance has faced North Korean attempts before, including operatives posing as job applicants, its chief security officer Jimmy Su told Decrypt in 2025.

Binance has said it will cover all losses from company funds and its Secure Asset Fund for Users. CEO Richard Teng said on 30 October that more than $6.34bn had been reserved, with about $3bn already located or frozen. The exchange first suspected a compromised DevOps engineer's laptop, has since found further breach points and says it found no evidence of leaked wallet private keys. Withdrawals remain suspended, with a resumption targeted for Sunday.

What to watch: Binance aims to resume withdrawals by Sunday while it reviews its security infrastructure.

Read the full story on Decrypt

Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Decrypt’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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