North Korea Denies Binance Hack and Blames Washington

North Korea has rejected U.S. findings linking it to the record hack of Binance, condemning the attribution by the FBI as a grave political provocation, according to reports. Kim Yo Jong, sister of leader Kim Jong Un, issued a statement via state media claiming the accusation is a sinister attempt to damage the nation's international image and insisted that cybercrimes globally are unfairly blamed on the country.

Kim also redirected blame toward Washington, pointing to the Trump administration's plans to use confiscated cryptocurrency as a strategic reserve. She suggested that observing who ultimately receives the retrieved crypto could offer a clue regarding the true perpetrators of the hacking incident.

The FBI recently announced that hackers identified as TraderTraitor were responsible for the theft of more than $6 billion from Binance, aligning with earlier conclusions from blockchain analytics firms. The same group was previously linked by the FBI to a $1.5 billion hack of the Bybit crypto exchange. Blockchain researchers noted that the stolen funds are being rapidly laundered across thousands of wallets, with billions already frozen or seized while portions of Bitcoin and Ethereum remain unmoved.

North Korea rejected FBI claims of involvement in the massive Binance cryptocurrency theft.

Following the breach, Binance resumed withdrawals and reported that hourly deposits began exceeding withdrawals as user activity and flows stabilized. The exchange stated that users holding its largest tokens can now verify balances are fully backed using zero-knowledge proofs. Binance indicated it has covered the vast majority of the missing assets using its reserves and upcoming snapshots.

Why it matters

This incident highlights ongoing security vulnerabilities within major cryptocurrency platforms and underscores international tensions surrounding state-sponsored cyberattacks. For global traders and digital asset holders, the rapid movement and subsequent freezing of billions in stolen funds demonstrate the evolving capabilities of blockchain analytics firms in tracking illicit crypto transactions.