Key Notes
- Trump says US authorities are examining a possible North Korean link to the Binance hack.
- TRM’s private-sector attribution remains separate from government confirmation.
- Binance’s replacement-fund and withdrawal plans are company statements, not proof that stolen assets were recovered.
President Donald Trump said the United States was examining whether North Korean hackers were responsible for the roughly $6.3 billion Binance theft, leaving official attribution open as the exchange works to restore withdrawals.
Asked about a North Korean connection in Friday remarks, Trump said: “We don’t know. We’re looking at that.” A clip and accompanying quotes were posted by Real America’s Voice on October 30.
Trump Leaves Attribution Open
The Associated Press also reported the exchange with reporters in the Oval Office, describing Trump’s response as an indication that US authorities were still examining the possible North Korean link.
RAV’s account also quoted Trump expressing caution about digital finance and referring to assurances he had heard about the situation: “they say they have it pretty much under control. We’ll see.” He also relayed an expectation that the money would be recovered.
Those comments did not establish that the stolen assets had been returned. The quoted remarks offered no new technical evidence identifying the attackers or explaining how Binance’s signing infrastructure was compromised.
TRM’s Assessment Is Separate
Blockchain intelligence firm TRM Labs attributed the attack with high confidence to TraderTraitor, a North Korean hacking group, based on its onchain and offchain intelligence. Its initial assessment put the theft at approximately $6.36 billion.
That private-sector finding is distinct from a US government attribution. Trump’s answer neither confirmed TRM’s conclusion nor presented evidence contradicting it. The FBI’s earlier attribution of the separate 2025 Bybit theft to the same group should not be read as an FBI finding about Binance.
CoinScreamer’s report on TRM’s North Korea assessment sets out that distinction. Our Binance hack investigation explains the reported wallet-draining sequence and the questions that remain unresolved.
Recovery Claims Still Need Confirmation
Earlier Friday, Binance said it had set aside more than $6.34 billion of company funds to cover the loss, with $5 billion already held in the affected cryptocurrencies. The exchange said it was acquiring the remaining assets through market purchases and over-the-counter transactions.
Binance has said customers will be made whole and that the affected hot-wallet assets belonged to the company. Those are company statements; setting aside replacement assets, freezing stolen tokens and recovering funds are separate steps.
In an earlier October 30 update, co-CEO Richard Teng targeted restoring withdrawals within 40 hours, subject to rebuilding and testing infrastructure, and a full Proof of Reserves report by Monday. Trump’s comments supplied no new withdrawal deadline or independent confirmation of that recovery timetable.
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