North Korea has denied allegations by the United States that it was responsible for the $6.3 billion cyberattack on Binance, the world's largest cryptocurrency exchange. The accusation was described as a politically motivated attempt to tarnish the country's image. Kim Yo-jong, sister of North Korean leader Kim Jong-un, dismissed the allegation as "absurd rhetoric" and a "grave political provocation" against Pyongyang.
Kim Yo-jong, who serves as director of North Korea's General Affairs Department, accused Washington of deliberately misleading the international community by repeatedly associating the country with cybercrimes across the world. She stated that the US has made a "trite provocation" of linking it with the Democratic People's Republic of Korea again. Kim further accused the American government of creating the impression that cyberattacks and other criminal activities reported in different parts of the world were carried out by North Korea.
The denial followed an announcement by the Federal Bureau of Investigation (FBI) on Sunday, in which the agency attributed the massive cryptocurrency theft to North Korean state-sponsored hackers. The FBI said the attack, which occurred on or around October 29, was executed by cyber actors linked to North Korea and operating under the name TraderTraitor. The group, also identified as the Lazarus Group, has previously been accused of major cryptocurrency thefts.
The latest incident has been described as the largest cryptocurrency heist in history, raising fresh concerns about the security of digital asset platforms and the growing sophistication of state-linked cybercriminal networks. The Lazarus Group has been linked to several high-profile cyberattacks in recent years, including the $1.5 billion hack of cryptocurrency exchange Bybit in 2025.
Kim Yo-jong maintained that North Korea opposes malicious activities in cyberspace, insisting that combating such conduct remains the country's official policy. She emphasized that it is a "grave political provocation" against the DPRK that the US misleads the international public opinion as if all the cyber crimes in different parts of the world are their deeds.
Meanwhile, Binance said on November 1 that it had replaced 95 per cent of the funds affected by the breach. The exchange also assured customers that it would absorb the financial losses arising from the incident, stressing that users would not be required to bear the cost of the security breach. This move aims to restore confidence in the platform and ensure that users are not negatively impacted.
The incident highlights the growing threat of state-sponsored cybercrime and the need for increased security measures to protect digital assets. The international community will likely be watching the developments in this case closely, as it has significant implications for global cybersecurity and the regulation of cryptocurrency exchanges.
Key points
- North Korea denies US accusation of $6.3bn Binance cryptocurrency heist
- US accuses North Korean state-sponsored hackers of executing the attack
- Binance absorbs financial losses from the security breach
