North Korea denies involvement in Binance hack
North Korean authorities have denied involvement in the largest cryptocurrency hack in history, which resulted in Binance losing approximately $6.3 billion. Moreover, Pyongyang has challenged the findings of U.S. investigators and hinted that the United States itself may have been involved in the attack.
According to Yonhap, Kim Yo Jong, the sister of North Korean leader Kim Jong Un and a senior official of the ruling party, issued a statement rejecting the allegations made by the Federal Bureau of Investigation (FBI). She described the U.S. authorities' conclusions as a political provocation aimed at damaging North Korea's international reputation.
"The FBI is trying to brand the DPRK as a 'cyber criminal state', claiming that it obtained information that a hacking organization 'supported' by the DPRK was involved in the incident," Kim Yo Jong said.
According to her, Washington regularly blames Pyongyang for major cyberattacks without providing convincing evidence. She also denied North Korea's involvement in the February 2025 hack of the Bybit exchange, during which attackers stole approximately $1.5 billion.
Pyongyang hints at possible U.S. involvement
In a statement released by the state-run Korean Central News Agency (KCNA), Kim Yo Jong also questioned the role of U.S. authorities in the investigation.
"If it carefully examines who will get the large amount of the so-called stolen cryptocurrency when the latter is retrieved, it may get a clue about who is behind the hacking incident," she said.
The North Korean official thus indirectly suggested that the United States could have been involved in the attack. However, she provided no evidence to support this claim.
Earlier, the FBI officially attributed the Binance hack to the North Korean hacking group TraderTraitor. The agency also urged cryptocurrency companies to block transactions involving addresses used to move the stolen assets.
In addition, TRM Labs investigators linked the attack to North Korean hackers with high confidence. According to the firm, the attackers had prepared malicious code in advance and used the EIP-7702 mechanism on the Ethereum network to withdraw funds. Chainalysis analysts and blockchain investigator ZachXBT also pointed to North Korean involvement.
Binance uses half of its emergency fund
Meanwhile, Binance continues to restore assets following the October 29 hack. According to the exchange, it had replenished approximately 95% of the affected assets using its own funds and reserves by November 2.
To cover the losses, the company tapped its Secure Asset Fund for Users (SAFU), as well as part of its futures insurance fund.
According to blockchain data, several transactions on October 31 reduced the balance of the SAFU Bitcoin wallet by roughly half, from 15,000 BTC to just over 7,500 BTC. With Bitcoin trading at around $77,000, the remaining assets were valued at approximately $580 million.
Binance has pledged to restore the emergency fund to approximately $1 billion but has not provided a specific timeline for replenishment. The exchange also assured users that it would fully absorb the financial impact of the hack rather than pass the losses on to its customers.
As a reminder, Binance customers withdrew $5.8 billion from the exchange.
Latest Binance News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
