Trump says U.S. probes possible North Korean role in $6.3 billion Binance hack
U.S. President Donald Trump said American authorities are investigating whether North Korean hackers were involved in the $6.3 billion Binance hack. However, he emphasized that no definitive conclusions have been reached about the origin of the attack.
According to Bloomberg, Trump was asked by reporters in the Oval Office on October 30, 2026, whether North Korea could have been behind the largest theft in cryptocurrency market history.
"We don't know. We're looking into it," the president replied.
Following the attack, Binance temporarily suspended withdrawals and pledged to compensate users for their losses. The exchange also reported freezing approximately $3 billion in crypto assets.
Trump comments on Binance's response to the hack
The U.S. president said Binance had assured him that it intended to cover the losses and had largely brought the situation under control.
"They say they're guaranteeing reimbursement or something like that. It was a hack. That's the problem," Trump said.
He also expressed concerns about the risks associated with digital assets, comparing cryptocurrency transactions with traditional banking instruments.
"You used to write a check and get money. Now it's different. Nobody sees the money anymore. So I've always thought it was a little dangerous," the president said.
Binance co-founder Yi He said the exchange expects to resume withdrawals by Sunday, November 1. Meanwhile, the investigation into the attack remains ongoing.
U.S. authorities investigate possible North Korean involvement
The FBI and cybersecurity specialists have repeatedly linked North Korean hacking groups to major cryptocurrency thefts. Western governments accuse Pyongyang of using such attacks to finance state programs, including weapons development.
Attention to Trump's comments is also tied to Binance's relationship with his family's business interests. The exchange participated in developing a stablecoin for a company co-founded by the president and his sons. In addition, Trump pardoned former Binance CEO Changpeng Zhao in 2025, after Zhao had previously pleaded guilty in a case involving violations of anti-money laundering requirements.
Amid the investigation, Binance announced that it had allocated more than $6.34 billion of its own funds to cover losses. Approximately $5 billion was already held by the company in the affected cryptocurrencies, while the exchange is purchasing the remaining assets on the market and through over-the-counter transactions.
Binance co-founder Yi He clarified that the company is purchasing tokens in amounts corresponding to the stolen assets. Once the transactions are completed, the exchange intends to update its Proof of Reserves data.
Earlier, we reported that daily liquidations across the cryptocurrency market exceeded $1.5 billion following the Binance hack. Traders betting on rising digital asset prices suffered the largest losses.
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