North Korea · South Korea · Federal Reserve (FED) · BBC Technology
North Korea disputes being behind record $6.3bn Binance hack
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North Korea has denied claims that it was behind the record $6.3bn (£4.7bn) hack of cryptocurrency exchange Binance, calling the allegations "absurd rhetoric".
Key facts
- North Korea has denied claims that it was behind the record $6.3bn (£4.7bn) hack of cryptocurrency exchange Binance, calling the allegations "absurd rhetoric
- The TraderTraitor unit, which is also known as the Lazarus Group, was blamed for a then-record $1.5bn hack of crypto exchange Bybit in 2025
- The net outflow represents a "relatively limited portion" of Binance's total assets, which stand at approximately $157bn, the spokesperson told the BBC on Tuesday
- The US Federal Bureau of Investigation (FBI), the Secret Service and cyber analysts have said North Korea orchestrated the hack, which has been described as the largest in history
Summary
Kim Yo Jong, a top Democratic People's Republic of Korea official and the sister of leader Kim Jong Un, said on Tuesday that the accusations are another "sinister attempt" by the US to damage Pyongyang's public image. The US Federal Bureau of Investigation (FBI), the Secret Service and cyber analysts have said North Korea orchestrated the hack, which has been described as the largest in history. This is the latest hack to be linked to North Korea, which has been accused of relying on cyber-crime to help finance its sanctioned economy. Blockchain analysts and the FBI have said the attack was led by state-backed hacking group TraderTraitor.