The FBI and U.S. Secret Service are working with Binance after hackers stole $6.4 billion from the cryptocurrency exchange, according to Reuters. A person familiar with the matter told Reuters that Binance is cooperating with law enforcement agencies worldwide.
The FBI confirmed it is aware of the incident and is working with public and private partners to assess its scope and coordinate investigative steps. Investigating financial crimes, including computer crimes and digital currency offenses, is part of the Secret Service's responsibilities beyond its better-known role protecting the president.
Circle, the issuer of the USDC stablecoin, froze more than $800 million in tokens connected to the attack. Tether, which issues USDT, froze another $975.1 million. Both companies can blacklist specific blockchain addresses, effectively immobilizing stolen funds before investigators identify those responsible. Circle CEO Jeremy Allaire confirmed the company is coordinating with law enforcement.
Blockchain intelligence firms TRM Labs and Chainalysis attributed the attack to TraderTraitor, a North Korean hacking group previously linked to the $1.5 billion Bybit hack in February 2025. North Korean attackers have targeted Binance before, including attempts to infiltrate the exchange by posing as job applicants and contacting employees on LinkedIn.
Binance said it will cover all losses using company funds and its Secure Asset Fund for Users. CEO Richard Teng stated the company had reserved more than $6.34 billion to cover the stolen assets, with approximately $3 billion already located or frozen with help from industry partners.
The exchange initially suspected a compromised laptop belonging to a DevOps engineer provided attackers access to its systems. Binance has since identified additional points of breach and found no evidence that wallet private keys were leaked. Withdrawals remain suspended while the company reviews its security infrastructure.
This is not the first collaboration between the Secret Service and crypto companies. In April, Operation Atlantic—involving the Secret Service, the U.K.'s National Crime Agency, Binance, Coinbase, and other crypto firms—identified more than 20,000 victims of approval phishing scams, traced $45 million in stolen funds, and froze $12 million.
