North Korea has denied involvement in the massive cryptocurrency heist at Binance, calling a U.S. announcement that North Korean hackers were behind the incident a "trite provocation" and "absurd rhetoric." Binance, the world's largest cryptocurrency exchange, reported that hackers stole more than $6 billion in what is believed to be the largest cryptocurrency heist on record.
The FBI subsequently attributed the attack to a North Korean hacking group known as TraderTraitor, which was also implicated in a $1.5 billion hack of the Bybit exchange last year.
Kim Yo Jong, the influential sister of North Korean leader Kim Jong Un, stated that this is not the first time the U.S. has attempted to create misunderstanding about North Korea by linking it to international cybercrime incidents. She added that the accusations confirm Washington's "hostile attitude" toward Pyongyang and that the country is monitoring U.S. provocations.
Outside experts suggest that North Korea has increasingly relied on cryptocurrency theft and other illicit cyber activities to generate foreign currency, support its economy, and fund its nuclear program amid international sanctions.
South Korea's Foreign Ministry noted on Monday that North Korea's illicit cyber activities pose a growing threat to the global digital economy and stated Seoul's cooperation with the U.S. and the international community to address this issue. The Binance heist occurred as North Korea has intensified its weapons testing, which is seen as an effort to gain leverage in potential diplomatic engagements with the U.S.
In response to questions about the case at a Halloween party, former U.S. President Donald Trump indicated that investigators were not yet certain of North Korea's involvement, stating, "We don’t know if it’s North Korea."