Trump Says US Is Investigating North Korea Link to $6.3 Billion Binance Hack

Highlights:

• President Donald Trump said US authorities are investigating whether North Korean hackers stole $6.3 billion from Binance.
• Trump raised concerns about digital money risks and questioned whether Binance could fully recover the stolen funds.
• Binance has reserved over $6.34 billion to cover losses and frozen approximately $3 billion in affected assets.

US President Donald Trump has said authorities are investigating whether North Korean hackers were responsible for the $6.3 billion cryptocurrency theft from Binance. Trump also raised concerns about the risks of digital money as the crypto exchange works to recover stolen assets and cover losses.

During an October 30 press exchange at the White House, Trump answered reporters’ questions about the Binance hack. He said the exchange claimed to have the situation largely under control but remained cautious about the recovery efforts.

Trump on Binance Hack: Says He Has Long Been Wary of Digital Money Risks

On October 30, President Donald Trump @realDonaldTrump addressed Binance’s reported $6.3 billion crypto theft during a press exchange in the White House Oval Office. Asked whether North Korea was… pic.twitter.com/ewnfnbMWlr

— Wu Blockchain (@WuBlockchain) October 31, 2026

Trump Says North Korea’s Role in Binance Hack Is Still Under Investigation

When a reporter asked whether a North Korean hacking group was responsible for the attack, Trump said the United States had not reached a conclusion. “We don’t know. We’re looking at that. The hack with Binance. We’re looking at that,” Trump said.

Asked whether Binance could recover the stolen cryptocurrency, Trump said the exchange had claimed it could recover the money and was guaranteeing the losses. He then compared digital transactions with traditional paper checks, pointing out that people no longer physically handle much of their money.

“I’ve always felt it was a little bit dangerous,” Trump said. He added that Binance claimed to have the situation largely under control, but cautioned, “We’ll see.” Trump’s comments followed reports linking the attack to North Korean hackers. However, he did not confirm who carried out the theft or announce any findings from the US investigation.

North Korean Hackers Linked to Binance’s $6.3 Billion Theft

The Binance security breach occurred on October 29, when attackers transferred billions of dollars in cryptocurrency from the exchange’s wallets. Blockchain security firm TRM Labs reported that approximately $6.36 billion moved across ten blockchain networks, with most funds stolen within about 20 minutes.

TRM Labs attributed the attack to TraderTraitor, a North Korean state-sponsored hacking group, with high confidence. However, the attribution remains an assessment by security researchers, not an official US government finding. 

Binance initially suspected that attackers had compromised an engineer’s laptop to gain access to internal systems and authorize withdrawals. Further investigations uncovered additional security breaches. The exchange said it had found no evidence that hackers obtained its wallet private keys.

Binance Sets Aside $6.34 Billion and Freezes $3 Billion in Assets

In its latest security update, Binance said it had reserved more than $6.34 billion in company funds to cover the losses. The exchange already holds more than $5 billion in replacement cryptocurrency assets, including Bitcoin, Ethereum, BNB, USDT and USDC. It is purchasing the remaining tokens to replace the stolen funds.

Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.

The company has already publicly committed to cover losses through… pic.twitter.com/UqtBd37Fpj

— Binance (@binance) October 30, 2026

Binance also confirmed that industry partners helped freeze about $3 billion in affected assets. However, freezing stolen cryptocurrency does not mean those funds have already been recovered. The company has promised to cover all confirmed losses through its Secure Asset Fund for Users (SAFU) and corporate funds. Binance temporarily suspended withdrawals while conducting security checks. It plans to restore services in stages after completing the necessary reviews.

The exchange also expects to publish updated proof-of-reserves information by November 2. The report will provide details of its cryptocurrency holdings and assets backing customer balances. Binance continues working with law enforcement and blockchain security firms to trace the stolen funds and identify those responsible.