FBI Blames Pyongyang For Binance Hack

What happened

Updated Nov 1, 1:53pm ET

The FBI attributed Binance’s $6.3 billion cryptocurrency theft to North Korea’s TraderTraitor operation. Binance began restoring withdrawals in phases Sunday after suspending them following the attack. Hackers stole the assets from Binance in minutes on October 29, making it the largest crypto heist in the coverage. The FBI said the same operation was converting stolen assets mainly into Ethereum, while Donald Trump said the United States did not yet know whether North Korea was responsible. Binance said it had replaced about 95% of stolen assets and customers would not bear the loss. The FBI warned the funds could move through decentralized-finance platforms, while Binance’s breach investigation continues.

How the left told it

Left-leaning outlets framed the case as a North Korean cyberattack, then focused on laundering risks, customer access and investor flight. The Guardian emphasized a record hack by a group the FBI identified as North Korea-backed, while noting billions leaving the exchange. CNN highlighted Richard Teng’s promise that users would not absorb the financial hit.

How the right told it

Right-leaning outlets led with historic North Korean cybercrime, while adding stronger focus on Binance covering losses and Trump’s doubt. The New York Post centered the FBI’s account of a North Korean operation behind the biggest crypto heist. ZeroHedge stressed Binance using its own funds to rebuild balances. Daily Mail highlighted Trump contradicting investigators on North Korea’s role.