North Korea denies U.S. allegations that it stole $6.3 billion from the Binance cryptocurrency exchange
3 November 14:36
North Korea rejects U.S. allegations that it was involved in a cyberattack on the Binance cryptocurrency exchange, which resulted in the theft of approximately $6.3 billion. Kim Yo-jong, the sister of North Korean leader Kim Jong-un, called such claims “absurd” and a “serious political provocation,” according to "Komersant Ukrainian", citing DW.
The Binance hack, which took place on October 29, is estimated to be the largest cyberattack ever on a cryptocurrency exchange. According to calculations by the Bank of Korea, North Korea’s total foreign trade volume for the past year amounted to $3.1 billion—less than half the value of the cryptocurrency stolen from Binance.
As Kim stated, the United States periodically links her country to international cybercrime without providing any evidence. In 2025, the U.S. government accused Pyongyang of involvement in a hacker attack on the Bybit cryptocurrency exchange, the media reports. At that time, the attackers stole $1.5 billion worth of cryptocurrency.
According to Kim, the constant accusations from the U.S. are intended to damage North Korea’s reputation and undermine its sovereignty.
FBI Data on the Involvement of North Korean Hackers in the Binance Hack
On October 31, the Federal Bureau of Investigation stated that hackers from the North Korean group TraderTraitor were behind the cyberattack on Binance, the world’s largest cryptocurrency exchange, and the theft of approximately $6.3 billion from its customers. According to the agency, the group’s members typically convert the stolen funds into Ethereum and then launder them, including through instant cryptocurrency exchange services.
The FBI has urged companies involved in crypto-asset transactions to block transactions from wallets linked to TraderTraitor.
Trump Questioned the FBI’s Findings
The next day, U.S. President Donald Trump cast doubt on the FBI’s findings.
“We’re looking into this right now. We don’t know if this is related to North Korea, but if it is, we’ll discuss the matter with North Korea,” he said on November 1, responding to questions from reporters at his Mar-a-Lago estate in Florida.
For its part, Binance management announced on October 31 that the cryptocurrency exchange had reimbursed 90% of the losses incurred by its customers who were affected by the attackers. According to various estimates, the cryptocurrency exchange has over 300 million registered users worldwide. In 2024, the company reported that it manages assets worth over $160 billion.
For several years, international security researchers have linked North Korean hackers to attacks on cryptocurrency exchanges. According to these estimates, the stolen funds are used to finance North Korea’s weapons programs.
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