North Korea has strongly denied US allegations that it was behind a $6 billion cryptocurrency heist on the Binance platform. The country's state news agency KCNA reported that Kim Yo Jong, sister of leader Kim Jong Un, dismissed the claims as "absurd rhetoric" and accused the US of maintaining a hostile attitude towards North Korea. This denial comes as Pyongyang has remained silent on US President Donald Trump's overtures to resume summit diplomacy.
The US Federal Bureau of Investigation (FBI) claimed that North Korea was responsible for the theft of over $6 billion in virtual assets from Binance, the world's largest cryptocurrency exchange. According to the FBI, members of a North Korean state-sponsored unit known as TraderTraitor were involved in the incident. The agency observed that they converted the stolen assets to the cryptocurrency ethereum and expected them to launder the assets further.
Kim Yo Jong stated that the US assertion was nothing new and a grave political provocation against North Korea. She added that the US was misleading international public opinion by attributing all cybercrimes in different parts of the world to North Korea. North Korea has consistently denied allegations linking it to cryptocurrency theft and other cybercrimes.
Cybersecurity experts say North Korean hackers are among the world's most prolific crypto thieves, and the proceeds help fund the country's weapons programs. Blockchain analytics firm Chainalysis estimated that 89% of crypto hack losses in 2026 were linked to North Korea, up from 15% in 2021. The average reported loss per hack rose from $50.65 million in 2021 to $185.65 million in 2026.
Analysts in Seoul believe that Pyongyang's swift response likely reflected concern that the allegation could lead to tighter efforts to disrupt revenue streams that North Korea is accused of using to finance its weapons. Additional US measures targeting crypto wallets, laundering networks, and cryptocurrency exchanges could choke off an important source of revenue for North Korea.
The Binance theft could be equivalent to about a sixth of North Korea's economic output, according to South Korea's central bank, which estimated North Korea's gross domestic product at 47.18 trillion won ($35.09 billion) in 2025. Kim Yo Jong said North Korea would "reconsider" unspecified issues in light of the "very unpleasant US hostile attitude", without elaborating.
The incident has significant implications for US-North Korea relations, with Pyongyang essentially saying that the US should not use this issue as leverage or pressure if it wants to keep the door to dialogue open. North Korea has not publicly responded to Trump's offers to resume summit diplomacy.
Key points
- North Korea denies US allegations of involvement in $6 billion Binance heist
- US FBI claims North Korean hackers were behind the theft of over $6 billion in virtual assets
- Incident has significant implications for US-North Korea relations and potential future dialogue
