TRM Labs and Chainalysis have attributed the estimated $6.36 billion to $6.4 billion Binance hack to TraderTraitor, the North Korean hacking group also blamed for the $1.5 billion Bybit theft. Funds were moved from Binance wallets across ten blockchains, most of it within about 20 minutes, while Chainalysis observed commingling between the Binance proceeds and funds from the Bitget exploit. The attacker reportedly turned an Ethereum hot wallet into a sweeping tool using EIP-7702 delegation, indicating that Binance’s signing infrastructure had been compromised. The attacker now holds more than 420,000 ETH and 18,270 BTC, while multiple parties have frozen about $3 billion in assets and Binance has reserved more than $6.34 billion to cover the losses.
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